Binance is at the finalizing stage of the talks about acquiring crypto data site CoinMarketCap. The global cryptocurrency exchange is looking to pay as much as $400 million for the cash-and-stock deal, potentially making one of the largest acquisitions in the crypto scene.
Other details of the deal remain unclear but announcement is expected to follow next week.
Binance CEO Changpeng “CZ” Zhao has said that there two acquisition deals in the near future with “significant impact” and CoinMarketCap may be one of them.
US-based CoinMarketCap drew 207.2 million visitors in the last six months, reports SimilarWeb, with Binance drawing 113.8 million for the same period, making CoinMarketCap’s traffic 80% more than Binance’s. The significant traffic amount may as well be one of the reasons for Binance’s interest.
Malta-based Binance, remains one of the biggest bitcoin crypto exchanges with about 22% traffic share, challenged only by Coinbase with about 21%.
Binance has acquired around nine companies last year including – wallet provider Trust Wallet, blockchain data startup DappReview; Indian cryptocurrency exchange WazirX and little-known Seychelles-based derivatives platform JEX.
Independent writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.