Binance Plans to Acquire Coinmarketcap.com for $400M: Report

Binance is considering to acquire Coinmarketcap.com, a digital currency data aggregator, and is already in the final stage of inking the deal.

Originally reported by The Block on Tuesday, the deal can go as high as $400 million.

If completed, this will be one of the biggest deals in the digital asset industry to date.

Per the anonymous sources of the publication, the dealings will be made in cash and stock and are expected to be announced later this week.

A popular platform in the community

Coinmarketcap.com is the leading crypto market data aggregator and sees more than 37.1 million in monthly visits, according to SimilarWeb data. Binance, on the other hand, is one of the most widely used global crypto exchanges, with 113.8 million visits in the last six months.

Currently, Coinmarketcap.com is redirecting its visitors to Crypto.com to purchase digital currencies. If the acquisition deal goes through, Binance can expect a massive surge in its traffic redirected from the crypto data aggregator.

The report also outlined that this is a major reason behind Binance’s interest in the platform.

Launched in 2017, Binance has become a leading player in the crypto exchange arena. Though started and established as a crypto-to-crypto exchange, the platform is now pivoting towards crypto-fiat trading.

In the last couple of years, the exchange also made significant acquisitions paving its way into other markets and also other Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term sectors.

According to Crunchbase, the crypto exchange has fully acquired four firms over the years, which include TrustWallet, a crypto wallet platform, JEX, a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term derivatives exchange, WazirX, an Indian crypto exchange, and DappReview, a decentralized application (DApp) platform.

The exchange, however, did not reveal the amount involved in those dealings.

Today, the exchange also revealed that it had acquired BxB, a South Korean crypto startup, to launch a local exchange in the country.