According to the yearly report by cryptocurrency analytics firm CoinGecko in 2019, Coinbase, Kraken and Binance led the expansion race, acquiring a total of 25 companies. American exchanges Coinbase and Kraken acquired 13 and 8 companies respectively, while Malta-based Binance took over 4.
Data services was the most popular sector, accounting for 44 percent of the total acquisitions. The main services offered by this sector are analytics and block explorers. Looking inward, exchanges and custodial wallet services were the second and third most sought sectors respectively, with 20 percent share each.
Financial services offering investment and brokerage functions took the third spot with a 16 percent share of acquisitions.