So, if you still unaware of news then CMC is acquired by binance and it’s an worrisome thing for so many of us in this so after this blog I am going to make an post about which are the best possible substitute of CMC. Before that lets discuss the deal of CMC acquisition,
all about the deal
So, it’s been in the news from last week when there are rumours started about the acquisition started floating so at that time people doesn’t take it seriously as we think it may be a rumour because I my sense buying CMC is not that easy as it is not cheap to buy but now it is reality so this is what is it. According to sources this acquisition is made by binance in 400 million dollars which makes it one of the biggest crypto ecosystems acquisition.
why binance acquired CMC ??
Ever since this msg cames to me I know the answer why this deal is happening and what binance is getting from this deal. So, as you know CMC is the biggest platform which tracks prices of cryptocurrency so as I am saying biggest means big number of customer base and that’s what binance want from this deal?? They just want to attract the users of CMC to binance if they succeed in this then it will give binance lot more bigger hand compared to other exchanges and will be like binance is going to be number one exchange for forever because customer are the key to success in this field big user base equals to big profit and CZ know this perfectly that’s why he puts his hand in CMC, other things I am understand is now listing new coin on CMC is going to be charged so more ways to generate profit, yes there is something good for customers as they are going to remove ads from the platform as of now.
The fear that it will be centralised ??
The reason why we are looking at new platforms is the fear of losing the platforms reliability because an exchange is acquiring this platform so it may be a case where binance may change the statistics about binance and make fool the customer because what we saw on CMC rather than price is where is the big volume where to trade for better liquidity and at this point binance may change the things in the favour as it is now to completely own CMC so now it’s CZ way of things we are going to see on the platform.
is there something good for us ???
As of now CZ is saying we are not going to change anything in CMC, and there is also announcement about now CMC will be ad free so it is quite good for customer experience and it is definitely going to make customer happy. We know binance has lots of money and as CMC is now it’s part then it can put money in this platform to increase user experience so it possible that we can see heavy change in the interface, hope they also change the interface of app of CMC which is really bad in my opinion have you used the app of CMC if yes then pls share your experience in comments.
CMC coin soon ???
After the acquisition of CMC there is an huge possibility that binance want some extra profit from this deal now they can make an IEO of CMC coin and as they have large user base they can make it an success, it may be an case but this time there is no discussion about this but we don’t know the future as binance is now involved here they may consider it in near future same as they make after acquiring WazirX they make an IEO as saying it is native token of wazirx and it is an successful IEO , as seeing this binance may consider this but all the things are in the future so let’s see it happening.
What are your thoughts about CMC coin let me know in comments.
what are your thoughts about this acquisition???
There is a CMC coin. I think, i was ok with CMC app, I use that for geting crypto price alert and stuff...anyway...must be open to alternatives, I am a little addicted to CMC, but centralisation is a major concern here for sure.
I don’t see any CMC coin, by the way censorship is really great concern
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Hi @sumit1998
I wasn't aware about this acquisition. Interesting. Thx for sharing that news.
upvote on the way :)
cheers, Piotr
Upvoted 👌 (Mana: 7/28)