Binance All Set To Acquire CoinMarketCap In $400 Million Deal
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Binance All Set To Acquire CoinMarketCap In $400 Million Deal

March 31, 2020      Jyoti Singh

According to a report, Binance would soon buy the CoinMarketCap, as it is at the final stage of the talks with the company and is ready to spend $400 million on the deal. It is expected that in the near future, the cash-and-stock deal might get released.

Binance CEO Grabs The Opportunity

A few years ago, while annoying the Bitcoin and Crypto-community, the CEO of Binance, Changpeng Zhao, revealed the two major acquisitions that were listed by the company. He expressed his excitement and stated that he is expecting, the deal the is going sign would have a significant impact on the sector.

Zhao stated, “When we identify top talent with a top product that we can’t beat, and the teams share common values, a merger makes sense in most cases. There are always a number of deals being discussed at any given time, and there are 2 that I am very excited about specifically. We will announce them in due time”.

The assumptions are being made that CoinMarketCap deal is one of those.

CoinMarketCap Attracts More Visitors Than Binance

A report by SimilarWeb states that CroinMarktCap is one of the most popular crypto aggregators in the market. In the last six months, the crypto aggregator has attracted around 207.2 million visitors, whereas, one of the world’s largest crypto trading attracted around 113.8 million visitors.

SimilarWeb report mentions that currently, the traffic rate on CoinMarketCap is 80 percent higher than Binance.

Experts believe that because the CoinMarketCap could easily drive the traffic onto its site, therefore, the Binance has been planning to obtain it.

In the year 2013, Brandon Chez founded the CoinMarketCap.

The report further states that the traffic share of Binance exchange is higher than others with around 22 percent still the Coinbase is giving it a strong competition with around 21 percent of traffic share.

In the year 2019, Binance acquired around nine firms which include Trust Wallet, DappReview, WazirX and JEX.

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Jyoti Singh
Jyoti Singh

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.