TL; DR Breakdown
- CoinMarketCap might be planning to rank countries accepting crypto
- Binance exchange owns CMC
- The community likes this new idea
Cryptos have managed to expand their reach and influence every aspect of economic life. They’re a daily topic both online and offline, and smart players are already capitalizing on their growing popularity. In fact, countries like El Salvador are now accepting Bitcoin as legal tender. This particular turn of events points to a very bright future for digital currencies. If it works in El Salvador, it can work everywhere else. Other governments will soon move to follow suit.
This uptake of cryptos by individual countries could be the motivation behind Binance’s latest idea. Binance is perhaps the largest exchange in the world by market cap. Now, the company’s CEO hinted that the largest data tracker for the global crypto market is now planning to rank countries that accept cryptos as legal tender. The tacker in question is CoinMarketCap. CZ threw the hint in a rather mild twitter post.
Crypto exchange owns CMC
It’s noteworthy that CoinMarketCap is now owned by Binance exchange. Binance acquired the data-oriented website back in April 2020. Some notable changes have been made to the website since then, one of them being the streamlining of how data is displayed for easier understanding. There are currently upwards of 5,400 crypto projects listed and tracked on CoinMarketCap. Bitcoin is the number one in the charts, followed by Ethereum and Tether respectively.
In a move that could be interpreted as affirmation, CoinMarketCap’s twitter handle retweeted CZ’s tweet, giving a hint that CZ’s tweet could hold some important clues to what the platform is planning.
However, no due dates or further information was given, leaving the fans wondering when the new ranking system will go online or whether it’s still in development. Either way, many think that it’s actually a great idea to rank countries according to their acceptance of crypto.