An ARK Invest analyst calls the current shakeout bullish for crypto, predicting more M&A, bankruptcies, and shutdowns ahead.
An ARK Invest analyst expects crypto markets to enter their largest consolidation phase, with mergers, bankruptcies, and project shutdowns accelerating in the coming months. The trend follows recent exchange closures, including BitMEX’s September shutdown and BitMart’s planned wind-down by January 2027, citing weak trading interest and strategic reviews.
Recent weeks have seen multiple exchanges announce exits, while others expand through acquisitions. Bybit, for example, entered Indonesia by acquiring a majority stake in local firm NOBI. Despite the industry shakeout, the analyst described the consolidation as “extremely bullish” for long-term growth.
The comments contrast with broader debates over blockchain adoption, as ARK recently disputed a16z’s claim that traditional finance prefers blockchain over decentralized finance.