Binance rumored to be acquiring CoinMarketCap for a potential price of up to $400 million

According to blockchain media source The Block, mainstream exchange Binance is reportedly in the final stages of negotiations to acquire the largest cryptocurrency data platform CoinMarketCap. The acquisition amount could reach as high as $400 million.

• Binance's website traffic market share is approximately 21.7%, ranking first
• Binance continues its "lightning expansion"

It is understood that this transaction involving cash and stocks is expected to be announced this week, making it one of the largest acquisitions in the cryptocurrency field upon completion.

In fact, on January 29th of this year, Binance CEO Zhao Changpeng mentioned in a Blog that they are in discussions for two major "strategic acquisitions."

The acquisition of CoinMarketCap may be one of these two transactions.

According to SimilarWeb data, CoinMarketCap is currently the most popular cryptocurrency data platform, with a traffic of up to 207.2 million in the past six months, while Binance had a traffic of 113.8 million in the past six months. This means that CoinMarketCap's traffic is 80% higher than Binance's.

CoinMarketCap was founded by the mysterious and never-before-seen Brandon Chez in Delaware, USA in 2013. The Block pointed out that CoinMarketCap's extremely high traffic was a major incentive for Binance's acquisition.

On the other hand, Binance remains the largest cryptocurrency exchange in terms of visitor traffic, with a market share of approximately 22%. Coinbase follows with 20.3%, and derivatives exchange BitMEX with 11.8%.

Since its inception, Binance has been "expanding rapidly." Last year alone, they acquired at least 9 companies (with only a few made public). These include wallet developer Trust Wallet, blockchain data platform DappReview, Indian cryptocurrency exchange WazirX, and derivatives platform JEX.

The size of this acquisition has also attracted widespread attention from the cryptocurrency community. Larry Cermak, the research director of The Block who is not afraid to offend anyone, once again mocked on Twitter:

I feel sorry for CZ, he blocked The Block and most of its members because we leaked his most explosive news a week early, poor CZ.

I also feel a little bit bad for CZ. He blocks The Block and most of its employees and we just broke his biggest news of the year a week early. Poor CZ 😢

— Larry Cermak 🫡 (@lawmaster) March 31, 2020

Related Reading

• The Lightning Expansion of the Crypto Kingdom Binance: From Pirates to Navy
• Binance Silences Zhao Changpeng Again! Halts Trading Once More and Refuses "Help" from OKEx

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