Binance Acquiring CoinMarketCap For $400 Million Dollars!?
Binance has entered the final stage of negotiations to acquire the popular crypto data aggregator CoinMarketCap.
According to sources The block, the crypto exchange plans to conclude a deal worth $ 400 million. It is expected that part of the amount will be transferred in cash, and part in the form of company shares.
CoinMarketCap’s immediate plans did not include raising funds from outside, since the project successfully coped with scaling service on its own. Over the past six months, more than 207 million people have visited it, which is 80% more than Binance (113.8 million). According to reports, it was the volume of traffic that was the main reason for the acquisition.
Since Binance is now the most visited cryptoexchange (22% of the total), the purchase of CMC will help not only strengthen its leading position in this direction, but also increase the efficiency of promotion their products. Earlier to similar the method was used by the Coinbase exchange, which bought out the Earn.com project.
text: Ivan Malichenko, photo: Shutterstock