Breaking itcoin News

Breaking Bitcoin News

Binance Acquires Coinmarketcap for $300-400 Million

written by

Support free journalists: > send a tip

  • 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.

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

Help spread this article :)

BitcoinNews.com is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

   Advertisement

Read More Bitcoin News

   Advertisement