Binance Finalizing Deal to Purchase CoinMarketCap! Can CMC Stay Neutral?

[cryptozink]

The deal to acquire CoinMarketCap is reportedly worth $400 million. Can CMC stays neutral after it is transferred to CZ?

Breaking the news:

https://www.cryptozink.io/binance-exchange-buys-cryptocurrency-price-index-website-coinmarketcap/

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[Flux0z]

No, Coinmarketcap is most likely losing a lot of traffic due to this, including me. I'm sure there will be Binance banners all over the site, and I wont be able to trust the data it shows anymore, since CZ has been involved in so many shady things already. (Hint: Steem).

Coingecko will be the place to be moving forward, at least for me.

What we are seeing here is everything becoming "centralized", which I don't like at all. Crypto is supposed to be decentralized, which is why I'm such a huge fan of projects like Blocknet, who builts the infrastructure to a completely decentralized network consisting of their XRouter, XCloud, and XBridge. Do your own research though

[cabron]

Well its going to make a lot of changes around when CZ is around. Decentralization somehow looks very like a myth this time, its all just binance getting all the time getting attention and buying crypto projects and businesses. That steemit wouldn't be forked if its not because of them. Years later that fork will also be forked if it gets worse and the reason could be still them.

[mirakal]

The deal to acquire CoinMarketCap is reportedly worth $400 million. Can CMC stays neutral after it is transferred to CZ?

No, because it' own by a certain exchange now, but the fact that it's Binance who owned it, people would still love using CMC.
Both have good reputation, if one destroy its reputation, the other will be affected, so I think this is good for the crypto market and I just like the aggressiveness of Binance.

[semobo]

Since binance has great reputation then there is a chance for the coinmarket cap also acquire the same reputation and get more users and traffic but Binance have to stay neutral or they are going to lose their invested capital since we already have more alternatives for coinmarketcap.

[Psynthax]

It can stay neutral for any service that is not related to the binance service but i doubt about credibility when it comes to the binance's data result. We know that even so many people know very well if there was a lot of accusations to the binance caused by it's also doing pump and dump scheme on its exchange site.

[el kaka22]

I can't belive cmc could worth anything remotely close to 400 million dollars. I mean that is literally crazy to think about, 400 MILLION DOLLARS? Really? Maybe 4 million dollars is okay but 400!!! That is waaaaaay more than I assumed it could ever worth. Surely they must have done their math and there must be some INSANE number of people visiting everyday and the advertisement could be really huge etc etc which means cmc must really worth something around 400 million that I have no idea why but can be actually bought.

In the end it will be more like satoshidice if you ask me. Satoshidice was the biggest and for the longest time only crypto gambling place, someone bought it for thousands of bitcoin spending millions of dollars of that day (lot more now) and now its all gone as you can see.

[Captain Corporate]

 Seriously it is showing on alexa that this website is between 500 and 600 in alexa traffic rating, right now around 570 for example, which is A LOT. There is only 569 other websites in the whole world that gets more visitors than coinmarketcap. Is 400 million dollars a lot of money? Sure it is, we are talking about almost half a billion dollars. However think about binance and how much they can earn from this. They can make the website look prettier and show all their own data as the best website in the whole world and they can put binance ads all over the place and basically control that traffic towards themselves.

 Is there a possibility that as soon as it is sold the number of people who visit the website will go down? Of course there is, maybe website will get worse and that is why there will be less people visiting, however that doesn't hange the fact that binance basically pays for its own advertisement for free while still owning the whole website and also makes sure that other exchanges do not put ads there neither, so not only they are promoting themselves but they are also blocking others promoting.

[cabron]

 Seriously it is showing on alexa that this website is between 500 and 600 in alexa traffic rating, right now around 570 for example, which is A LOT. There is only 569 other websites in the whole world that gets more visitors than coinmarketcap. Is 400 million dollars a lot of money? Sure it is, we are talking about almost half a billion dollars. However think about binance and how much they can earn from this. They can make the website look prettier and show all their own data as the best website in the whole world and they can put binance ads all over the place and basically control that traffic towards themselves.

 Is there a possibility that as soon as it is sold the number of people who visit the website will go down? Of course there is, maybe website will get worse and that is why there will be less people visiting, however that doesn't hange the fact that binance basically pays for its own advertisement for free while still owning the whole website and also makes sure that other exchanges do not put ads there neither, so not only they are promoting themselves but they are also blocking others promoting.

Binance can improve the AI that coinmarketcap is using to get  correct data. Right now CMC is just presenting inaccurate information that junk exchanges using their bots to make it appear like they have volume but their AI can't recognize its bots so it ranked these exchanges on top. And the team who has no idea are making negotiations to them for IEO.

[StephenJH]

I doubt the CMC will be the same place after the end of the purchase program. $400mln is not a small amount but I am sure it will worth spending time&money for re-building the CMC from the scratch.

[pacman7331]

Different people have a different opinion on this matter, which is normal! Personally, I think Coinmarketcap will have neutral data than before, as we saw fake volume exchanges took the first places and real volume exchange ranks were under a very low rank, that won't be ever, because Binance won't allow such shady business! But I have a doubt about BNB and Binance exchange! CZ will give the highest rank for Binance exchange for always and BNB's volume will be huge, I mean they will manipulate it and all those coins that came through Binance IEO launchpad! Anything can happen, we will see the answer after a couple of days!

[puremage111]

Well from news

According to Chan, Binance did its best to ensure that CMC can continue to adhere to its own listing methodology
Source: https://cointelegraph.com/news/binance-announces-coinmarketcap-acquisition-cz-gives-the-scoop

Then
"CMC will still continue to operate as an independent business entity, both Binance and CMC emphasized"

Seems like it will be a single entity but more like a parents organization/sub organization
Thus, we can assume that CMC could stay Neutral for short term and we will see in the long run

[DU18]

I think of course now binance has full power to manage the data available on coinmarketcap, so I really hope that coinmarketcap can provide data related to trade, market, capitalization, and altcoin correctly and real without any data manipulation as before, we can see how on the list market  in coinmarketcap many scam markets place at the top of the list so that it is very detrimental for many traders / investors who really want data that is completely true and accurate to be used as a reference in trading.
Of course, by acquiring coinmarketcap by binance, will make coinmarketcap better and neutral in providing information about cryptocurrency

[nelson4lov]

~Snipped ~
Of course, by acquiring coinmarketcap by binance, will make coinmarketcap better and neutral in providing information about cryptocurrency

Well, about the neutrality, we don't know if Coinmarketcap would truly continue with their current listing methods. However, I know one thing for sure. It's the fact that or Binance Launchpad IEO tokens will get priority listing.  

Aside from that, I don't see much changes coming to Coinmarketcap. I just hope they retain their userbase though as CMC is one of the top 5 most visited crypto websites.

[patz22]

It may or it may not. Why? Okay, okay, let us put up on this point. Let just say binance owns CMC and CMC listed a lot of binance's competitors. What should they do? Of course, there is a hidden agenda in everything even though they say that they will remain neutral. if they remain neutral then it is like you are owning a Samsung phone while promoting Iphone.

[stomachgrowls]

The deal to acquire CoinMarketCap is reportedly worth $400 million. Can CMC stays neutral after it is transferred to CZ?

No, because it' own by a certain exchange now, but the fact that it's Binance who owned it, people would still love using CMC.
Both have good reputation, if one destroy its reputation, the other will be affected, so I think this is good for the crypto market and I just like the aggressiveness of Binance.

It would only have 2 outcomes wether people would stick out on visiting CMC or would completely stop.I dont see much of difference because if CZ would make up changes
then it would be noticeable by the public specially if its already owned by Binance.

If CMC would decide to sell it out then theres nothing we can do and as mentioned there were lots of alternatives when it comes to checking market prices not only Cmc but
cant really deny that majority do really rely nor do visit cmc.

Didnt expect that even cmc would be purchased by Cz. hmmm

[lobo13hf]

It may or it may not. Why? Okay, okay, let us put up on this point. Let just say binance owns CMC and CMC listed a lot of binance's competitors. What should they do? Of course, there is a hidden agenda in everything even though they say that they will remain neutral. if they remain neutral then it is like you are owning a Samsung phone while promoting Iphone.

That's to bring back the popularity of binance. I know that CMC has been manipulating its chart and that's why binance wanna try to acquire its first spot again. Remember binance is better on the traffic that has already got by CMC. So far it sounds interesting to know more about that.

[jossiel]

We cannot expect what will be the first move and the next by CMC once it's acquired by CZ. He has all the power to do what he wants with this most popular coin tracker because he'll take it.

I guess most of you are thinking that he'll manipulate the data and tabulate that's being shown by CMC. We don't know until we finally see when his management is the one who entirely manages the whole website. Maybe he will get rid of those dead coins.

[Danslip]

I doubt the CMC will be a better place if the Binance want to buy the CMC. The fake trading data and wast trading are the two biggest problems of the CMC, fixing this will take the time. I don't think the transparency will be the same in the new model of CMC. Binance will be the hegemony crypto exchange if they start to do the same thing for all type of crypto websites.

[patz22]

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That's to bring back the popularity of binance. I know that CMC has been manipulating its chart and that's why binance wanna try to acquire its first spot again. Remember binance is better on the traffic that has already got by CMC. So far it sounds interesting to know more about that.

Popularity? They are already popular in crypto space and already made a reputation when it comes to exchange and innovation of its exchange. Of course, going back they will have a hidden agenda in getting CMC, maybe, they are good for all and only for them.