Coinmarketcap
| Company type | Private |
|---|---|
| Industry | Cryptocurrency |
| Founded | 2013 |
| Founder | Brandon Chez |
| Headquarters | New York City , United States |
Key people | Brandon Chez (Founder) |
| Products | Cryptocurrency market data platform |
| Parent | Binance (since April 2020) |
CoinMarketCap is an online platform that delivers information on cryptocurrency valuations, trading volumes, and overall market capitalization. Established in 2013 by Brandon Chez in New York City, it evolved into one of the leading sources for crypto market data by 2018.
Overview
Brandon Chez, an IT developer, founded CoinMarketCap, which quickly became a prominent reference for cryptocurrency market statistics. In January 2018, the site removed South Korean exchanges from its price indexes due to their consistently elevated prices, a move that notably affected Ripple's (XRP) market cap and triggered fluctuations in the market.
To combat inflated trading volume figures, CoinMarketCap launched a Liquidity score in November 2019. The company was acquired by Binance in April 2020 for an undisclosed amount, with estimates from Forbes suggesting a valuation near $400 million.
Additionally, CoinMarketCap has contributed to safeguarding investors by alerting users about the 2021 "Squid" coin fraud, which falsely claimed association with the Squid Game television series. The platform continues to serve as a trusted resource for ranking cryptocurrency exchanges.
Founder Brandon Chez explained that the decision to exclude South Korean exchanges stemmed from user feedback regarding inaccurate price data; however, the subsequent market effects were more significant than expected.