Is Binance a problem for Bitcoin?

The crypto exchange Binance is growing inexorably and is gaining more and more market power in the crypto market. How powerful Binance is now, why the crypto exchange also wants to enter the mining business and why Tether should be a thorn in the side of Binance CEO, Changpeng Zhao.

Not a week goes by without us reporting Binance. Be it that the CEO, Changpeng Zhao, comments on the goings-on in the markets on Twitter, a new product from Binance is announced or a company, such as Coinmarketcap, is to be bought. The impression that Binance invests in every conceivable service in the crypto economy (or buys in it) can lead to uncertainty. Is there a giant emerging here that creates its own rules and standards?

 

Why is Coinmarketcap worth $ 400 million?

When it was announced last week that Binance was reportedly looking to buy the largest cryptocurrency ranking site for $ 400 million, it caused a lot of stomach ache. The Coinmarkcap site has become a standard that a majority of crypto investors follow. Where the Bitcoin price is currently and how high the trading volume has been in the last 24 hours is internationally read using Coinmarketcap. Coinmarketcap aggregates the price data and trading volume from all major exchanges, including Binance.