Binance, one of the largest global crypto exchange, is in the last stage of negotiation to acquire Coinmarketcap, the biggest platform to provide segregated crypto market data. The Block informed without revealing the exact source, that the deal is expected to finalize at cost of around $400 million. As the official statement is yet to release from any of the parties and the terms are undisclosed, the block confirmed that the announcement from Binance and Coinmarketcap would release this week.
Binance would make the payment of this million dollar deal in cash and company stock to Coinmarketcap. Since Binance has acquired some local exchanges and crypto business, this would be one of the largest acquisitions in the crypto sphere. Although the exact details of this anticipated deal are still unclear, it would be one of the highly expected deals of Binance as cited by Binance CZ, the CEO of Binance. Earlier this year, CZ said that he is excited about the upcoming two significant acquisitions by Binance.
According to Coinmarket’s recent tweet, we can expect an important tomorrow:
For those who are wondering, there’s no way we’d forget what day tomorrow is! 😏
— CoinMarketCap (@CoinMarketCap) March 31, 2020
Coinmarketcap is a popular crypto data aggregator. It has around 207.2 million visitors in the last few months. While the Binance attracted 113.8 million visitors that are only 80% of visitors of Coinmarketcap. The massive number of traffic is one of the main reasons behind the acquisition of this crypto data platform by Binance. In the row of acquisition made by Binance last yet, this will a major and biggest of all.
John is working as a professional news editor at GetIgnite. He is accustomed to finding daily reports. Therefore, this keen working and addiction towards his work, it helps him to find good news.