CMC Buyout by Binance Might Give Benefit to CoinGecko
CoinMarketCap is a website or platform that has been developed to track capitalization in the crypto market. Amid this it also came out that there are certain users of the website who are concerned about this takeover by Binance. While, some are there who do not care about it at all.
Some are also suggesting that CMC users might turn towards an alternative that is CoinGecko due to this whole taking over process.
Binance to acquire CMC by $400 million
As Binance is all set to acquire CMC, it also came out that this deal might be of total $400 million. This whole amount will consist of both cash and stock. This buyout is considered to be one of the biggest deals ever in the whole crypto industry.
BREAKING: Binance set to acquire CoinMarketCap for as much as $400 million. This likely makes it one of the largest acquisitions in crypto. https://t.co/VcleLkqsMS
Although this news of buyout by Binance has not been confirmed by any of the firms. But there are few reports which claim that both the firms might confirm this acquisition in this or the next week.
Binance, which is already one of the largest crypto exchanges, will gain much power through this acquisition.
The deal might not affect the ranking of CMC
CMC is one of the best sites that provide the price reference of all the cryptocurrencies out there. It has been ranked at 570 in Alexa ranking while CoinGecko is way behind as it has been ranked at 7.304. This clearly indicates that there is not any competition between both the sites.
It has been over quite some time now that there is huge traffic on CMC including those also who are not related to the crypto industry. So ultimately it seems that this acquisition by Binance will not affect its ranking.
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