CoinGecko Seeks Sale: The End of the Era of Independent Cryptocurrency Data

Author: BlockWeeks

All along, there has been a silent consensus regarding the two major crypto data platforms: CoinMarketCap (CMC) is considered Binance’s “Traffic Empire,” while CoinGecko (币虎) is regarded as the community’s “Independent Beacon.”

However, as Moelis & Company brings a $500 million bid shuttling between Wall Street and Silicon Valley, it seems this last beacon is also ready to go out. For those who witnessed CoinGecko’s origins from a single desk in Kuala Lumpur in 2014, this is not just an acquisition; it marks the end of an era where crypto data moved from “grassroots” to “capital harvest.”

If this deal goes through, it will echo the 2020 sale of CMC, jointly defining two very different eras of crypto data infrastructure.

1. $500 Million: Premium or Last Escape?

According to multiple media reports, CoinGecko is seeking to sell at a valuation of $500 million. At first glance, this is only 25% higher than the rumored $400 million when Binance acquired CMC in 2020. Considering the past five years of USD inflation and the expansion of the crypto market, this price doesn’t seem expensive, even slightly conservative.

But we need to look beyond the surface data to understand the essence.

Currently, CoinGecko faces a serious “traffic shrinkage” crisis. According to SimilarWeb data, CoinGecko’s monthly visits declined from 43.5 million in 2024 to 18.5 million in December 2025. This isn’t because CoinGecko did something wrong; it’s because times have changed:

1. AI’s Dimensionality Reduction Attack: Users no longer need to manually click on websites to check “ETH price today”; they directly ask ChatGPT or SearchGPT.
2. Trading Entry Preposition: Wallets and DEX aggregators have integrated market data, eliminating the need to visit aggregation sites.

Therefore, this $500 million purchase isn’t for a “traffic portal” (like CMC back in the day), but for a “Data Gold Mine.” CoinGecko possesses the industry’s cleanest API data, the most comprehensive long-tail token library, and the most rigorous exchange credit scoring (Trust Score).

If CMC sold for “eyeballs,” then CoinGecko sells for “brains.” This $500 million is a valuation of its role as an industry infrastructure (Infrastructure) rather than a media platform (Media).

2. Echoes of History: 2020 CMC vs. 2026 CoinGecko

Rewinding to 2020, when CZ announced the acquisition of CMC, the community was in an uproar, worried about data objectivity being compromised. Comparing these two sales, we can clearly see a dramatic shift in industry logic:

First, the core driving forces are fundamentally different.

The 2020 Binance acquisition of CMC was essentially a “traffic grabbing” “land grab.” At that time, exchanges needed CMC’s massive retail traffic as a “funnel” to convert viewers into traders. In contrast, the 2026 CoinGecko sale is more like a “compliance-driven data harvest.” In the current ETF and institutional-led environment, potential buyers (whether traditional finance or compliance giants) no longer just crave retail eyeballs; they desire high-quality, clean data assets to feed quantitative funds and AI models.

Second, the market environment has drastically changed.

When CMC was sold, the industry was in the tail end of the “Wild West” and the eve of DeFi Summer, with retail frenzy and rampant data manipulation.

Now, at the moment CoinGecko chooses to exit, the industry has entered an “Institutional Stock Game” era. Regulatory tightening, compliance above all, and the squeezed space for grassroots platforms have forced “independence” to bow to “capitalization.”

Finally, the fate cycle of founders.

Back then, CMC founder Brandon Chez was mysterious; after the deal, he completely retreated from the scene. CoinGecko founders Bobby Ong and TM Lee, after 12 years of persistence, chose the most rational “retirement after achievement.” This is not only a personal wealth realization but also a final salute from Web2’s classic crypto entrepreneurs to the times.

3. Who Will Be the Next? Three Possible Outcomes

CoinGecko’s “independence” is its greatest asset and also its biggest burden after the sale. Who buys it will determine its future:

• Outcome A: Major Exchange Giants (e.g., OKX, Coinbase)

  • Probability: Low. Regulatory pressure is immense. Coinbase doesn’t need to buy a declining traffic website for data, and offshore exchanges acquiring it could lose trust from European and American institutional clients.

• Outcome B: Traditional Financial Data Providers (e.g., Bloomberg, Morningstar)

  • Probability: Moderate. This is a perfect complement. Traditional finance firms desire native crypto data, and CoinGecko’s API business can seamlessly integrate into Bloomberg terminals. But this would make CoinGecko “boring” and expensive.

• Outcome C: Crypto Asset Management or Payment Giants (e.g., BlackRock affiliates, Circle)

  • Probability: High. They need to control pricing power and data sources, and won’t cause direct conflicts of interest like exchanges.

4. Farewell, Era of Independence

BlockWeeks has repeatedly recommended CoinGecko to newcomers, always saying: “Use CoinGecko because they haven’t issued tokens and haven’t been acquired by exchanges.”

If this $500 million deal goes through, that reason will no longer hold.

CoinGecko’s pursuit of sale is not just a financial victory for founders Bobby and TM, but also a final curtain for the Web2-era crypto data aggregation model. In an AI-driven future, perhaps we won’t need a centralized website to display prices; data will flow like water behind all applications.

Even if CoinGecko is sold, it will be a dignified exit. It maintained restraint during the most tumultuous years and held the line in the toughest bear markets. Now, it simply chooses to pass the baton to capital at the most fitting dusk.

We have to admit, in this industry, living long isn’t as good as selling at the right time. CMC sold at the start of a bull market to gain traffic; CoinGecko sold on the eve of AI to gain valuation. Perhaps this is the best ending.

For users, cherish the currently neutral CoinGecko; for the industry, prepare for a new world without “third-party referees.”