Founded and Launched in 2013, CoinMarketCap for many is their central hub for cryptocurrency data, price updates, altcoins, news, and more. Since its launch it has attracted hundreds of thousands of users with its homepage becoming strangely synonymous with the cryptocurrency space.
This year in May it was acquired by Binance Capital Mgmt for a sum that was estimated to be in the ballpark of $400 million. At that time CoinMarketCap was ranking at close to rank 550 on Alexa’s Traffic Statistics. Today that rank is 873.
What is also interesting about the decline is that at almost the same time that CoinMarketCap’s traffic began to fall another popular cryptocurrency hub CoinGecko began to rise.
If we look at the Alexa ranking graphs for both sites we can see the correlation between the two.
First up is CoinMarketCap. You can see in the past 90 days the decline in rank. Reaching a peak of 550 just under 90 days ago with todays rank being 873.
Next we have CoinGecko. Beginning the 90 day period at close to 8000 and now being ranked at 5132.
You could say that Alexa’s data is off however, similar trends can be found using Google Trends.
Search trends for ‘CoinMarketCap’ over 90 days have declined but with some short term spikes in interest
Search trends for ‘CoinGecko’ have steadily grown over the past 90 days.
What is also interesting that CoinGecko has began to out rank CoinMarketCap in search results for certain altcoin google searches. For example the search term ‘Swissborg’ below.
CoinMarketCap is still a huge site and still significantly outranks CoinGecko in terms of traffic. But may we be witnessing a move away from CoinMarketCap towards its competitiors?
