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Binance Might Acquire CoinMarketCap – Report

Linas Kmieliauskas
Last updated: | 1 min read

Major crypto exchange Binance is in the final stages of talks to acquire the biggest crypto market data provider CoinMarketCap for up to USD 400 million, The Block reported, citing undisclosed people familiar with the matter.

Source: Adobe/Unshu

CoinMarketCap’s ability to drive a significant amount of traffic is one of the major reasons for the acquisition, while the cash-and-stock deal is expected to be announced this week, according to the report.

Binance declined to comment when contacted by We also contacted CoinMarketCap for comment and will update should they reply.

CoinMarketCap tweeted today (tomorrow is April Fools’ Day):

In February, Binance had almost 24 million visits, while CoinMarketCap had 37 million, according to digital market intelligence platform Similarweb.

CoinMarketCap was founded in 2013 and is headquartered in Dover, Delaware, according to Crunchbase.

Market data providers ranked by visits in February:

CompanyGlobal RankNumber of Visits in FebruaryChange Since JanuaryCountry of Most Visitors
CoinMarketCap1,73337.1 million+9.11%U.S. 14.38%
CoinGecko8,4328.35 million+5.7%Russia 10.47%
Cryptocompare19,4533.2 million+3.2%U.S. 14.41%
Coinpaprika68,848940,000+6.8%Poland 32.18%
Messari226,520210,000-4.54%U.S. 35.72%

In January, Changpeng Zhao, CEO of Binance, revealed that the company is in talks over two “major” acquisitions which “will have a significant impact.” The CEO did not specify any further back then.

According to public records, in the last twelve months, Binance acquired three other companies.

DateCompanyIndustryRankDaily Trading VolumeBaseDeal Size
September 2019JEX (now Binance JEX)Derivatives platform48 Spot; 296 Futures (According to Coinpaprika)USD 168.2M Spot; USD 477,320 FuturesSingaporeUndisclosed
November 2019WazirXCrypto exchange151 (According to Coinpaprika)USD 796,370IndiaAllegedly USD 5-10 million
December 2019DappReviewDatabase platform for decentralized applications20,754 (Category Rank, SimilarWeb)ChinaUndisclosed

Also, among other investments, Binance made an unspecified “strategic equity investment” into FTX, a crypto derivatives platform, in December.