New post
George Ma
March 31 20:38

Media: Binance intends to purchase CoinMarketCap service for $400 million

According to The Block, Binance is at the final stage of negotiations to buy the popular analytical service CoinMarketCap.
Sources familiar with the situation report that the negotiated amount of the deal is US$400 million. Closing of the deal and official announcement is expected this week.

Earlier this year Binance head Changpeng Zhao said that his company is preparing to make several major strategic acquisitions. Then he noted that these deals should have a significant impact on the market landscape.
Thus, it is possible that the statement in January was about CoinMarketCap. According to SimilarWeb, over the past six months, 207.2 million people have visited this aggregator of cryptocurrency market data. For comparison, 113.8 million users visited Binance over the same period.
CoinMarketCap visit numbers are 80% higher compared to Binance.
Informed sources also expressed the view that huge traffic on CoinMarketCap could be the main motive for potentially one of the largest acquisitions in the industry's history. Binance, in turn, is the most visited cryptocurrency exchange.
Among the largest crypto exchanges, Binance accounts for almost 22% of the traffic.
Other major deals in the history of the crypto industry include the US$400 million acquisition of the Poloniex exchange by Circle and the purchase of Bitstamp, the oldest European trading floor, by Belgian investment firm NXMH for approximately US$350 million.