COINGECKO REVEALS THE DATA PLATFORM IS OPEN TO ACQUISITION
CoinGecko, one of the earliest data platforms and aggregators in the crypto space was launched back in 2014, CoinGecko employs a holistic pattern of approach to track tokens and several crypto exchanges.
In its metrics and statistics, CoinGecko tracks data from over 4,700 crypto tokens and exchanges numbering over 300. The data platform gives an in-depth understanding of crucial metrics and figures that drive the market. This great and running initiative to find an optimal way to track crypto was founded by TM Lee and Bobby Ong.
According to one of the CoinGecko co-founders, the platform is ready for acquisition, but not anytime soon.
Bobby Ong clearly stated that CoinGecko had been hit by the current market condition staged by the crypto winter, but isn’t planning on selling off yet. He believes that all Cryptocurrency companies, firms, and investments are always victims of a bear market that is cyclical. During a bull market season, the crypto industry does very well and on the flip side does badly during a bear market.
Ong expatiated that CoinGecko had been equally hit by the crypto winter, and this would make it the third crypto winter experienced by the platform since inception. The data aggregator platform plans to improve on its operation as a foundation for the next bull run to optimize to full potential the next cycle of the bullish season.
According to CoinGecko’s Chief operating officer, it had about a 100million monthly page views in July, which is a drop from its all-time peak in November 2021. This so happenstances to be a decrease by 85%. The COO believes that the platform’s all-time peak viewership was a result of the BTC pump in early November, which featured Bitcoin’s all-time high with a value of $68,000.
This price shoot directly influenced the platforms’ revenue, as CoinGecko makes revenue through advertising and higher earnings are a direct impact of page views. Ong also stated that Cryptocurrency token listings on the platform have dropped by about 70% since the previous year.
Despite the downtrodden current market conditions, CoinGecko still maintains its workforce number and almost doubled its number from 30 to 57 in the past 7 months, and has not laid off any staff yet. Ong also added that CoinGecko hadn’t declared any hiring freeze also.
Following the CoinMarketCap acquisition by Binance in April 2020, CoinGecko has been approached by several exchanges and investors multiple times. But the platform has chosen to stay independent and neutral. According to Ong, the company has made some adjustments over the years and might be open for acquisition in the future, but not now.
