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Binance Acquires Coinmarketcap for $300-400 Million

written by

Zachary

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BITCOIN NEWS,
April 3, 2020

Coinmarketcap is one of the most popular crypto websites in the world

As of 31 March, Binance has officially acquired Coinmarketcap in a USD 300-400 million deal. Apparently Coinmarketcap received mostly equity in Binance and Binance Coin, although the specifics have not been disclosed. In any case, this is one of the largest acquisitions in crypto history.

Coinmarketcap is one of the oldest, most reputable, and most popular crypto websites in the world, and it had 207.2 million unique visitors in the last six months. Essentially, Coinmarketcap is one of the top sources for crypto price data, since it has complete data for thousands of cryptocurrencies, in addition to having data for hundreds of crypto exchanges.

Indeed, Coinmarketcap’s popularity and high volumes of traffic are precisely why Binance acquired it. Basically, now Binance can tap into Coinmarketcap’s traffic in order to acquire new users.

Notably, Coinmarketcap has apparently retained some sovereignty, and Binance cannot unilaterally change Coinmarketcap’s business model. In general, Coinmarketcap will continue to run as an independent business entity.

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Zachary

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