ARK Invest Analyst: Crypto Industry Enters Largest Consolidation Phase in History

TechFlow news, July 30, according to Cointelegraph, ARK Invest researcher Lorenzo Valente stated in a post on July 30 that the cryptocurrency industry is entering the largest consolidation phase in history. As investors become increasingly strict in screening projects, revenue is accelerating its concentration towards a few top protocols—Hyperliquid and Pump.fun collectively account for approximately 67% of total industry application revenue; if Ethena is included, the top three collectively account for nearly 80% of the share. Valente expects this trend to accelerate in the coming months, triggering more M&A, bankruptcies, and project shutdowns. Meanwhile, BitMEX and BitMart recently announced the shutdown of trading services successively, further confirming the consolidation trend. Valente believes that this round of consolidation is "extremely beneficial" for the long-term development of the crypto industry.