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Binance to purchase CoinMarketCap

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Binance to purchase CoinMarketCap


The news has just fallen: the giant Binance is reportedly in the process of purchasing one of the largest aggregators of cryptocurrency data. In any case, this is what the media suggests The Block, which reports that the amount of the purchase of CoinMarketCap by Binance could amount to $ 400 million.

Binance offers CoinMarketCap?

An anonymous source, who is believed to be close to the project, said the acquisition was nearing completion. Confirmation is expected to be released during the week.

It is certainly one of the acquisitions that Changpeng Zhao had teased at the very beginning of 2020. Another “major” purchase would also be in the cards for the exchange platform, but we don’t know more on the subject. You should therefore wait for an official confirmation from the exchange.

👉 Discover our portrait of Changpeng Zhao, the CEO of Binance.

CoinMarketCap, behemoth of the sector

If it is proven, the association between these two major figures in the crypto industry should in any case be talked about. In total, these are more than 200 million visitors who have viewed CoinMarketCap data in the past six months.Traffic Binance CoinMarketCap

Comparison of the number of visitors between CoinMarketCap and Binance – Source: The Block

Its classification of cryptocurrencies by capitalization is moreover considered as one of the major indicators of the health of the nebula of altcoins.

The site had also recently taken steps to fight against market manipulation. It would therefore bring to Binance, the most visited exchange platform in the world, a new influx of visitors. And would further strengthen the hegemony of the group.

Because the question arises: how will CoinMarketCap be able to maintain impartiality even though it lists the trading volumes of the various platforms, including Binance? This is in any case an element that Binance will undoubtedly have to clarify, in order to continue to benefit from the trust of the users of the data aggregator.

👉 Read also: Yahoo Finance integrates CoinMarketCap data into its crypto section

Binance seems to be caught up in a frenzy of acquisitions over the past year. Last September, he bought JEX, then WazirX in November and dAppReview in December. We will therefore carefully monitor the next purchase of the cryptocurrency giant.

twitter-soothsayerdatatwitter-soothsayerdataMarine Debelloir website

Intrigued by Bitcoin for several years, I fell in love with cryptocurrencies and the innovative technologies that result from them. I love finding the crispest info to share with you and help democratize this exciting world. But I don’t stop there! I also like to analyze projects related to cryptos and blockchains, which fascinate me just as much.
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