It has been reported by a news outlet The Ken that CoinGecko had 20.6 million monthly desktop and mobile visitors as of October, compared with CoinMarketCap’s 29 million.
However, these numbers represent a 135% increase in site traffic for the Singapore-based firm since May, when CoinMarketCap drew four times as many visitors as the competitor.
The report said that while both websites saw small peaks in traffic during July, CoinMarketCap has not significantly widened the gap since Binance acquired the site in April for a reported $400 million.
.@TheKenWeb reports that growing institutional demand for crypto has given @CoinGecko “an opportunity to grow into a major player” https://t.co/vRhyrtTcwj — Cointelegraph (@Cointelegraph) December 7, 2020
Bobby Ong, the Co-founder and Chief Operating Officer of CoinGecko, said that it would be “hard for CoinMarketCap to stay neutral and independent,” after the acquisition.
In July, just three months after the announcement, CoinMarketCap put Binance’s Binance Coin (BNB) token at the top of its decentralized finance list, later withdrawing it and claiming the listing was “a case of human error.”
Likewise, The Ken report stated:
“Growing demand coupled with question marks about CoinMarketCap’s impartiality post its acquisition have given CoinGecko an opportunity to grow into a major player. CoinGecko is locked in a David and Goliath battle to be the site record for crypto financial information.”
Compared with CoinMarketCap, which the report refers to as the “800-pound gorilla of crypto pricing sites,” some see CoinGecko as the independent underdog slowly making its way to the top.
Thus, Ong said:
“We have closed the gap [with CoinMarketCap] significantly this year and are quite close to overtaking them. Most serious crypto traders, investors, and users have already made the switch to CoinGecko.”