RootData: The industry is entering a "big fish eats small fish" consolidation period, with a wave of mergers and acquisitions expected to erupt in Q4 2025

ChainCatcher news, according to the “RootData 2025 Web3 Industry Annual Report”, shows that 2025 will present a rhythm of "Q3 concentrated IPOs and Q4 merger explosions," reflecting the path of companies "first going public for financing, then integrating and expanding." In November, the monthly merger amount accounted for 59% of the annual total, mainly driven by the actions of giants like Naver acquiring Dunamu.

The report indicates that the integration trend will continue in the first half of 2026, with industry leaders building moats through capital operations, while small and medium-sized projects face the harsh choice of "being acquired or being eliminated."