CoinGecko Seeks Sale: The End of the Era of Crypto Data Independence

Author: BlockWeeks

There has always been a tacit consensus regarding the two major crypto data platforms: CoinMarketCap (CMC) is Binance's "traffic empire," while CoinGecko is an "independent beacon" for the community.

However, as Moelis & Company shuttled between Wall Street and Silicon Valley with a $500 million offer, this last beacon seemed poised to go out. For those who witnessed CoinGecko's rise from a desk in Kuala Lumpur in 2014, this was not just an acquisition, but a pause in the crypto data industry's transition from a "grassroots era" to a "capital harvesting period."

If this deal goes through, it will echo the sale of CMC in 2020, together defining two distinct eras for encrypted data infrastructure.

1. $500 million: Is it a premium, or a last-ditch escape?

According to multiple media reports, CoinGecko is seeking a sale 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 inflation of the US dollar and the expansion of the crypto market over the past five years, this price seems inexpensive, even slightly conservative.

But we need to peel back the surface of the data to see its essence.

CoinGecko is currently facing a severe "traffic decline" crisis. According to SimilarWeb data, CoinGecko's monthly visits dropped from 43.5 million in 2024 to 18.5 million in December 2025. This isn't because CoinGecko did anything wrong, but rather because times have changed:

1. AI's disruptive impact : Users no longer need to manually click on websites to check "ETH price today," they can directly ask ChatGPT or SearchGPT.

2. The trading entry point is front-end : the wallet and DEX aggregator integrate market data, so users no longer need to visit the aggregator website.

Therefore, the $500 million wasn't buying a "traffic portal" (like CMC back then), but rather a "data goldmine ." CoinGecko possesses the cleanest API data in the industry, the most comprehensive long-tail token library, and the most rigorous exchange trust score.

If CMC sells "eyeballs," then CoinGecko sells "brains." This $500 million is its valuation as industry infrastructure, not as a media platform.

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

Rewind to 2020, when Changpeng Zhao (CZ) announced the acquisition of CMC, the community was in an uproar, worried about the compromise of data objectivity. Comparing these two sales today, we can clearly see a dramatic shift in industry logic:

First, the core driving forces are fundamentally different.

Binance's acquisition of CMC in 2020 was essentially a "land grab for traffic ." At that time, the exchange needed CMC's massive retail investor traffic as a "funnel" to convert those viewing market data into traders. The sale of CoinGecko in 2026, however, was more like a "compliant harvesting of data." In the current ETF and institutional-dominated market, potential buyers (whether traditional financial institutions or compliant giants) no longer merely crave retail investor attention; they desire high-quality, clean data assets that can be used to feed quantitative funds and AI models.

Secondly, the market environment has undergone tremendous changes.

When CMC was sold, the industry was on the eve of the "Wild West" and the DeFi Summer, with retail investors in a frenzy and data manipulation rampant.

CoinGecko's exit comes at a time when the industry has entered an era of "institutional players vying for existing resources." Tighter regulations and the paramount importance of compliance have squeezed the survival space of grassroots platforms, forcing "independence" to bow to "capitalization."

Finally, there's the founder's cyclical fate.

Brandon Chez, the founder of CMC, was shrouded in mystery and completely retired after the transaction was completed; while Bobby Ong and TM Lee, the founders of CoinGecko, chose the most rational "retirement" after persisting for 12 years. This is not only the realization of personal wealth, but also the last tribute of Web2 classic crypto entrepreneurs to the era.

III. Who will be the one to take the fall? 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: Exchange giants (such as OKX, Coinbase)

  • Probability: Low. Regulatory pressure is immense. Coinbase doesn't need to buy a website with declining traffic just to boost data, and if an offshore exchange were to acquire it, CoinGecko would lose the trust of its institutional clients in Europe and America.

• Outcome B: Traditional financial data providers (such as Bloomberg and Morningstar)

  • Probability: Medium. This is a perfect complement. Traditional finance craves crypto-native data, and CoinGecko's API business can seamlessly integrate with the Bloomberg terminal. But this will make CoinGecko "boring" and expensive.

• Outcome C: Crypto asset management or payment giants (such as BlackRock affiliates, Circle)

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

IV. Farewell, the Era of Independence

BlockWeeks has recommended CoinGecko to beginners countless times, always with the same reason: "Use CoinGecko because they haven't issued their own token and haven't been acquired by any exchange."

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

CoinGecko's pursuit of a sale is not merely a financial victory for its two founders, Bobby and TM, but also the farewell to the encrypted data aggregation model of the Web2 era . In an AI-driven future, perhaps we will no longer need a centralized website to display prices; data will flow like water through the backends of all applications.

Even if CoinGecko were to sell itself, it would do so with dignity. It maintained restraint during its most tumultuous years and held its ground during the toughest bear market. Now, it has simply chosen the most opportune moment to hand over the baton to capital.

We have to admit that in this industry, it's better to sell at the right time than to survive long. CMC sold at the beginning of the bull market, gaining traffic; CoinGecko sold on the eve of AI, gaining a high valuation. Perhaps this is the best outcome.

For users, please cherish CoinGecko's current neutrality; for the industry, please prepare for a new world without "third-party referees."