It is being reported that Binance one of the largest exchanges is in the final stages to acquire CoinMarketPlace a independent data aggregator of crypt prices and information. The reported price is for $400 million dollars. An acquisition at that price would make it the largest acquisition in the crypto space to date. An indication of the crypto space maturing. This would mark Binance’s fifth acquisition as it looking to expand beyond being an exchange.
There is a lot of questions surrounding the acquisition of CoinMarketPlace. Will the team that ran CoinMarketPlace still stay in place? How much influence will Binance have on CoinMarketPlace? Binance has their own coins (Binance and Binance DEX) many are wondering if Binance will limit what other coins are listed on the CoinMarketPlace.
One of the reasons that CoinMarketPlace has become the trusted destination for crypto trades and investors is because of the data they provided, which was aggregated from a number or sources but widely believed to be accurate.
$400 Million Dollar Price Tag
The $400 million dollar amount is a large price, the largest acquisition to date in the crypto space and many are wondering if its worth it, what are they getting for that price. It’s a site that gets over 37 million visitors a month according to Similarweb, it ranks #570 on Alexa’s ranking, while lower from the Crypto/ICO heyday when it ranked in the top 10 websites, its still an online property that has a large amount of visitors and generates a significant amount of revenue.
While as a private company, revenue information isn’t disclosed. It was noted that the site was bringing in close to $1 million dollars a day, from advertising and listing fees. While we suspect that the number is lower now, it is still the premier space to advertising if you are looking to get in front of the crypto community.
While many individuals worry about transparency with Biance owning CoinMarketPlace, only time will tell how the site is run. It may also give an opportunity for others in the space to increase their capabilities and presence as aggregators of crypto prices.