Web3 Industry Report Predicts IPO and Merger Trends for 2026

According to ChainCatcher, the RootData 2025 Web3 Industry Annual Report indicates a pattern of concentrated IPOs in the third quarter and a surge in mergers and acquisitions in the fourth quarter of 2025. This trend reflects a strategic approach where companies prioritize listing for financing before pursuing expansion through integration. Notably, November's mergers and acquisitions accounted for 59% of the annual total, driven by significant moves such as Naver's acquisition of Dunamu.The report forecasts that the consolidation trend will continue into the first half of 2026, with industry leaders leveraging capital operations to build protective barriers. Meanwhile, smaller projects face tough decisions between being acquired or becoming obsolete.