Cryptocurrency exchange Binance is negotiating the purchase of CoinMarketCap

The cryptocurrency analytic portal CoinMarketCap, one of the most popular among users, may soon change its owner. Binance crypto exchange is ready to pay for the acquisition of $ 400 million.

As The Block portal stated, the Binance cryptocurrency exchange is at the final stage of negotiations on the acquisition of the CoinMarketCap cryptocurrency analytic portal. The exchange is ready to pay $ 400 million for CoinMarketCap, sources familiar with the negotiations told the reporters.

The purchase is planned in currency and stocks. The deal is predicted to be publicised later this week.

Earlier in 2020, Binance CEO Changpeng Zhao announced that the exchange was negotiating two important deals. Changpeng Zhao called them “key”, which will have a “significant impact.” The acquisition of CoinMarketCap may be one of these two deals. Both companies have not yet commented on the media report.

In October 2019, CoinMarketCap Strategy Director Caroline Chan announced that the project does not plan to raise funding in the near future.

According to SimilarWeb, the website CoinMarketCap is the most popular cryptocurrency aggregator. The number of visitors to the CMC website over the past six months amounted to 207.2 million. Over the same period, the number of Binance visitors was 113.8 million. CoinMarketCap traffic is 80% higher than Binance traffic.

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CoinMarketCap was founded in 2013 by the anonymous Brandon Chez in Delaware, USA.

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