David Duong, Head of Research at Coinbase, anticipates a wave of mergers and acquisitions among Digital Asset Treasury (DAT) companies as market cycles mature. He suggests that not all DATs will survive long-term, with some potentially forced to pivot. Currently, DATs collectively hold over 1.4 million BTC (6.6% of total supply), 5.49 million ETH, and 13.4 million SOL, with a total value exceeding $190 billion.
Coinbase's David Duong Predicts M&A Surge Among Digital Asset Treasury Firms
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