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Binance is buying CoinMarketCap
Binance is buying CoinMarketCap
Crypto

Binance is buying CoinMarketCap

By Marco Cavicchioli - 31 Mar 2020

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The Block has revealed that Binance is about to finalize the purchase of CoinMarketCap (CMC). 

For now, this is only an unconfirmed rumour coming from “people familiar with the matter”, but according to The Block, the negotiations are close to completion

According to this source, the agreement is converging towards a purchase price of about $400 million and should be formalized within the week. 

If this figure is confirmed, it will be one of the largest acquisitions ever in the crypto industry

However, there are no further details, so for the time being the news should be taken with a grain of salt.

Nevertheless, it was already well known that Binance was trying to make some important acquisitions, especially because the CEO Changpeng CZ Zhao had already revealed that the company was working on at least two important acquisitions, and in particular, one of which he was “very excited”. 

He has already acquired other crypto companies of some importance in the past, including Trust Wallet and DappReview, so this acquisition is part of a broader strategy that aims to further strengthen the company’s role in this market. 

The numbers of the CMC website are very significant figures in the crypto sector, with a primary role in the specific area of market information and exchange prices of cryptocurrencies. 

Indeed, it literally dominates this sector with over 30 million visits per month from all over the world. 

For example, comparing its volume of visits with that of the Binance.com website, it can be seen that until a few months ago, it was even twice as high, although the gap has narrowed in recent months. 

It is precisely these high volumes of traffic that have attracted Binance’s interest in this service, to the point where the company has put on the table one of the most important figures ever offered in the world for a crypto website. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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