CoinMarketCap makes its first acquisition to improve its pricing algorithms

posted 11 months ago
CoinMarketCap, a major source of prices and volume data on crypto markets, revealed plans for its first-ever acquisition. The United States-based company is acquiring electronic crypto trading fund Hashtag Capital in order to expand its efforts within its Data Accountability & Transparency Alliance (DATA), an initiative launched in May 2019 to provide greater transparency in crypto space.

Following the acquisition, the Hashtag Capital team will be joining CoinMarketCap to work on pricing algorithms for the digital coins listed on its platform, as well as to develop new data offerings on the platform, the press release notes. Brandon Chez, CEO and founder of CoinMarketCap, said that the company’s first acquisition will allow it to go beyond its “traditional volume-weighted average prices to even more sophisticated price algorithms and analyses.”
Tags: bitcoin, news