May 21, 2024

Binance is in talks to buy CoinMarketCap

Binance is in talks to buy CoinMarketCap

The largest cryptocurrency exchange Binance is at the final stage of negotiations on the purchase of the CoinMarketCap platform.

According to The Block, the exchange planspay about $400 million for the site. The deal is expected to take place this week. At the moment, the terms of the deal (except for the amount) remain unknown. 

CoinMarketCap – one of the most popularcrypto aggregators. Over the past 6 months, the portal was visited by 207.2 million people. For comparison, over the past six months, the Binance exchange gained 113.8 visitors. CoinMarketCap traffic exceeds Binance traffic by 80%. 

The Block informant reported that CoinMarketCap's traffic volumes were the main reason for the purchase. 

Binance remains the most visited cryptocurrencyexchange with a 22% share of traffic. The exchange's closest competitor – Coinbase – owns about 21% of total traffic. Bitmex exchange ranks third with 11.8%. 

Binance is in talks to buy CoinMarketCap

Recall that this month Binance issued a debit card that allows you to directly pay for goods and services with cryptocurrency.

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