Blog & Insights

Market analysis, deal-making guides, and insights from the Level.io advisory team.

Market Insights8 min read

The State of Web3 M&A in 2025: Deal Flow, Valuations, and What Buyers Want

An analysis of 214 closed transactions on Level.io — what categories are trading, at what multiples, and which buyer profiles are most active.

November 8, 2025

Valuation6 min read

How to Value a DeFi Protocol: Revenue, TVL, and the Multiple Debate

We break down the three most common valuation frameworks used in Web3 M&A and explain when each applies.

October 22, 2025

Secondaries10 min read

Secondary Liquidity in Crypto: The Complete Guide for Sellers

From SAFEs to token warrants, a breakdown of every instrument type and how to price your secondary position.

October 5, 2025

M&A Strategy5 min read

Acqui-hire in Web3: Why Talent Is Often the Real Asset

As protocols wind down and teams pivot, acqui-hires are becoming the most common transaction type. Here's how they work.

September 18, 2025

Deal Structuring7 min read

Token-Denominated M&A: Structuring Deals When Both Sides Hold Crypto

All-token deals, hybrid structures, and earnouts — the mechanics of closing when neither side wants to touch fiat.

September 2, 2025

Due Diligence12 min read

Due Diligence Checklist for Buying a Web3 Business

Technical, financial, legal, and community health — the 47-point checklist our team uses on every transaction.

August 14, 2025