The site reportedBloc“Binance, one of the leading cryptocurrency exchanges, will acquire CoinMarketCap (CMC) for $400 million.

Acquisition of $400 million?

The $400 million deal makes the deal one of the largest acquisitions of a cryptocurrency tracking platform in history.

But given the value of the CoinMarketCap platform, which is considered an indispensable platform for traders and investors, which now counts more than 5,000 cryptocurrencies, has a tracking of many trading platforms and ranks them according to liquidity, all these numbers and tracking statistics attract millions of unique visitors every month.

As the crypto industry depends heavily on numbers related to cryptocurrencies and their trading platforms, and the party responsible for this must be a reliable party.

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This is what CoinMarketCap is trying to do and has taken many measures earlier to improve it.

Investors of Bitcoin, Ethereum, Ripple and other cryptocurrencies can track the performance of their currencies in real time, and traders can also place bets calculated based on the dominance of Bitcoin and the probability of “volatility”.

CoinMarketCap was distinguished by carrying several advantages, including the above, to outperform several competitors in the same field, including the Coingecko platform, for example.

But CoinMarketCap also has a dark past, for example, it has been accused of failing to remove platforms known to launder trading, and they also did not remove Bitconnect despite it being known to everyone as a scam (Ponzi).

Will Binance gain its grip on CoinMarketCap?

With Binance entering the equation, given its huge investment, it can begin to ask some tough questions, and search for answers about the real reasons for the acquisition.

Binance is an independent platform, listing several cryptocurrencies for trading on its two platforms: Binance and DEX decentralized for a fee.

However, what the crypto community is asking is whether Binance will have a hand, setting quality controls, deciding which coins and tokens to include in the CMC tracker, and controlling them?

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Same goes for trading platforms, will Binance crush competitors by restricting certain data?

These questions are troubling questions, and Twitter is teeming with them.

For example, user declare By saying:

This is not good at all for the crypto market.

The CMC platform is like a standalone listing site for all cryptocurrencies.

When you have a crypto platform/company in charge, who says they won’t have implicit biases when listing projects?

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Whatever it is, money becomes the speaker

Crypto mogul Larry Cermak is convinced that Binance doesn’t have to shell out $400 million unless it’s keen to capture CoinMarketap’s massive traffic.

He said on Twitter:

This acquisition would be meaningless if CoinMarketap did not have as many visitors as it could.

But a simple explanation is that Binance wants access to CoinMarketap’s traffic of 207.2 million users in the past six months.

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