Binance set to acquire Coinmarketcap

The World’s largest exchange in terms of volume, Binance, is all set to acquire one of the most visited websites in the cryptocurrency space – Coinmarketcap. According to the block, the deal could be announced this week.

Binance is likely acquiring Coinmarketcap for $400 million. This acquisition makes it one of the largest acquisitions in the cryptocurrency space. The other terms of the deal remain unclear.

Coinmarketcap is one of the most visited websites in cryptocurrency space. According to Similarweb, 30-40 million people visit the website monthly. It is speculated that Binance is acquiring Coinmarketcap to drive traffic to their exchange.

Binance Acquisition Spree

Binance is on an acquisition spree, acquiring companies that will most likely help them become a monopoly. The list of acquisitions includes – Trust Wallet, popular DApp review website – DApp Review, Indian cryptocurrency exchange – WazirX and the latest Coinmarketcap.

On January 3rd, CZ said that Binance has 2 major acquisition planned for 2020. The Coinmarketcap acquisition could be one of them.

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