Binance is in the final stages of talks to acquire CoinMarketCap with the deal as much as $400 million
Binance is all set to acquire CoinMarketCap, one of the most visited websites in the cryptocurrency space. The deal could be announced this week, with a total value of up to $ 400 million, according to bitcoin and crypto news and analysis website The Block.
Binance is likely acquiring CoinMarketCap for $400 million
This acquisition makes it one of the most significant acquisitions in the cryptocurrency space. The other terms of the deal remain unclear. CoinMarketCapis one of the most visited websites in cryptocurrency space. According to Similarweb, 30 – 40 million people visit the site monthly, and around 207.2 million visitors to CoinMarketCap in the last six months. It is speculated that they are acquiring CoinMarketCapto drive traffic to their exchange. Because CoinMarketCap’s traffic is 80% more than that of its.
The World’s largest exchange in terms of volume, on the other hand, remains the most visited crypto exchange with about 22% traffic share. It is in a neck-and-neck competition with Coinbase, which has a share of about 21%.
Binance is on an acquisition spree, acquiring companies that will most likely help them become a monopoly. They acquired at least nine companies last year, but only a few were made public. The list of acquisitions includes Trust Wallet, JEX, popular DApp review website – DApp Review, Indian cryptocurrency exchange – WazirX, and the latest CoinMarketCap.
- July 2018: Binance acquired Trust Wallet
- September 2019: Binance acquired JEX
- November 2019: Acquired WazirX
- December 2019: Acquired DApp Review
- April 2020: Plans to acquire CoinMarketCap
On January 3rd, CZ said that Binance has two major acquisitions planned for 2020. The CoinMarketCap acquisition could be one of them.
Overall, other largest crypto deals to date include Circle’s acquisition of Poloniex for $400 million; Bitstamp’s acquisition by Belgium-based investment firm NXMH for around $400 million; Coinbase’s acquisition of Earn.com for $120 million; and Kraken’s acquisition of Crypto Facilities for $100 million in 2019, among others.
At press time, BNB is trading at $ 12.71, increase more than 5% in the last 24 hours.
BNB price | Source: CoinMarketCap
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