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Binance Completes Acquisition of CoinMarketCap, Offering Accurate Tracking of Cryptocurrency Data. 

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Last updated on July 15th, 2020 at 11:48 am

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Binance, the decentralized blockchain company that allows easy buying of cryptocurrency with Nigerian Naira among other fiat currencies including South African Rand (ZAR) announces the acquisition of CoinMarketCap, the world’s best cryptocurrency data tracking website.

This is a mind-blowing deal, introducing a more accurate data for various cryptocurrencies in the world. This new development will allow Binance to continue providing trusted and user-friendly service with the safety of the crypto community in mind. 

There will be more accurate, timely, and quality cryptocurrency data like an accurate price for buying Bitcoin with Nigerian Naira integrating with Binance’s expertise, resources, and scale.

“The core DNA of CoinMarketCap is strongly aligned with Binance’s ethics and culture, from its integrity to its value of freedom, transparency and user-focus. Our common vision will be strengthened by this acquisition to further growth and instill transparency in the industry. This will enable us to build on each other’s strengths, jointly serving as infrastructure providers of crypto.” – Binance CEO, Changpeng Zhao (CZ)

CoinMarketCap has shown and maintained a  remarkable culture in putting up a reliable crypto data without the control of any external body since it’s operation. 

According to announcement, CoinMarketCap will continue to run as an independent body without any control from any external body since, “Binance has no bearing on CoinMarketCap rankings, while CoinMarketCap has no influence over Binance’s operations.”

See Also: Binance Loan: What is Binance Loan, How to Use Binance Loan And Get Loan With Little Interest.

Moreover, with the Binance’s new liuidity metric and additional derivative market data, new rating metrics and analytics from trusted partners, CoinMarketCap will be equipped to expand its new intended data aggregating services such as futures, options, lending, and others. 

Binance also notes that CoinMarketCap founder Brandon Chez will be stepping down as CEO, but will remain as an advisor. Carylyne Chan, the current Chief Strategy Officer at CoinMarketCap is now the interim CEO.

Brendon Chez said, “I believe that of all the teams in the space that could acquire CoinMarketCap, Binance is one of the very best options. They are a team that has shown, time and again, that they care about their users and will do the best for them, even in the most challenging of times. This spirit will continue to be echoed in our own user-focused philosophy at CoinMarketCap.”

Commenting on his new position as the interim CEO at Coinmarketcap, Carylyne Chan said, 

“Ever since our humble beginnings in 2013, we have been public about our commitment to remaining neutral by avoiding censorship and judgment of projects or exchanges that we list, preferring to let users make their own decisions based on the data. We are delighted that the Binance team has been unequivocal in ensuring that we can continue to adhere to our methodology without prejudice.”

Binance continues to remain the Amazon of Cryptocurrency in the world, the most user-friendly cryptocurrency trading platform in the world allowing an easy transfer of Bitcoin with Naira.

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