Crypto traders are following platforms such as CoinMarketCap and CoinGecko to examine cryptocurrency prices, stock market volumes, and market values of cryptocurrencies today.
Binance announced that it had purchased CoinMarketCap for a fee of $ 400 million a few days ago. CoinMarketCap, which has more than 200 million visitors in the last 6 months, has become a part of Binance. This brought several questions to people’s minds: ‘Will CoinMarketCap be able to be independent of Binance anymore?’, ‘How will this agreement affect the competition between CoinGecko and CoinMarketCap?’
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Bobby Ong, founder and CEO of CoinGecko, answered some of these questions in his statements to My Two Gwei. CoinGecko is currently shown as CoinMarketCap’s biggest rival. So the fact that Binance bought CoinMarketCap is a huge improvement for CoinGecko.
Binance CEO Changpeng Zhao recently answered some questions about CoinMarketCap and said that Binance will not “interfere” with CoinMarketCap, and CoinMarketCap will “act independently”.
Apparently, CoinGecko CEO Bobby Ong doesn’t find Changpeng Zhao’s descriptions very realistic. Because Ong doesn’t believe that CoinMarketCap can stay independent after this time. His views on the Binance-CoinMarketCap agreement are as follows:
“$ 400 million is a huge amount. I think it will be difficult for CoinMarketCap to remain neutral and independent after this agreement. That’s why CoinGecko is now the largest independent data platform on the market. ”