According to CoinDesk, the veteran data analysis company CoinGecko is considering a sale, with an estimated valuation of approximately $500 million, and has commissioned investment bank Moelis to serve as the advisor for the transaction.

Sources familiar with the matter revealed that since the relevant procedures only began at the end of last year, discussions about the specific valuation are still premature. However, this move reflects that the entire crypto ecosystem is undergoing a profound period of consolidation—companies are seeking to scale operations, improve regulated infrastructure, and compete for strategically significant assets.

Numbers speak the loudest. According to PitchBook statistics, in the first few months of 2025 alone, the crypto industry completed 133 M&A transactions, totaling $8.6 billion—this figure has already surpassed the total of the previous four years. Some major acquisitions last year include: a leading exchange acquiring Deribit (a crypto options and futures trading platform) for $2.9 billion, and another exchange purchasing NinjaTrader (a futures platform) for $1.5 billion. Besides these large deals, strategic mergers and acquisitions are also happening across various segments such as payments, data, and infrastructure.