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 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.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Introduction: A New Era for Finance Leaders Blockchain technology has moved past hype. It now…
Introduction to the Booming The world of blockchain and crypto is changing fast. One key…
Introduction: The Growing Power Thirst of Crypto and Tech Giants The world of blockchain and…
Bitcoin's Big Drop Sparks Senator's Bold Stand Bitcoin has taken a hard fall. It dropped…
Is ? Surge Says Yes Bitcoin has been on a wild ride lately. After a…