CoinGecko Questions CoinMarketCap’s Dominance As Data Resource

Coingecko questions CoinMarketcap’s dominance as the data resource on the market and is now entering a battle to become the record site for crypto financial information as we are reading in today’s crypto news.

The gap between crypto analytics providers Coinmarketcap and CoinGecko started narrowing down as it comes to the number of website visits that each site receives per month. According to a report from the outlet The Ken, CoinGecko had about 20.6 million monthly desktop and mobile visitors in October while Coinmarketcap had 29 million. The numbers represent a 135% increase in traffic for the Singapore-based company since May when the platform drew four times as many visitors as CoinGecko.

Both of the sites saw small peaks in traffic back in July but CoinMarketCap hasn’t widened the gap by a lot since Binance acquired the site back in April for $400 million. At that time, CoinGecko’s co-founder and chief operating officer Bobby Ong said that it is going to be “hard for CoinMarketCap to stay neutral and independent” after the Binance acquisition.
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Back in July, a few months after the announcement, CoinMarketCAp put Binance’s BNB coin at the top of the decentralized finance list and withdrew it later claiming that the listing was human error. The Ken Report outlined:

 “Growing demand coupled with question marks about CoinMarketCap’s impartiality post its acquisition have given CoinGecko an opportunity to grow into a major player. CoinGecko is locked in a David and Goliath battle to be the site record for crypto financial information.”

Compared with CoinMarketCap, which the reports see is as the main pricing site, some see that CoinGecko is an independent underdog that is slowly rising to the top. CoinGecko questions the dominance that CMC has as Ong said:

 “We have closed the gap [with CoinMarketCap] significantly this year and are quite close to overtaking them. Most serious crypto traders, investors, and users have already made the switch to CoinGecko.”

Earlier this year, we reported that The CoinMarketCap CEO Carylyne Chan has quit along with two vice presidents after only four months from the Binance acquisition. Chan worked for two years and three months at the company and in an interview with Decrypt she said:

 “Before I joined CoinMarketCap, I built and subsequently sold a company that was in the artificial intelligence space. I believe that there is still a lot to be done in AI, so I might go back to that field at some point.