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CoinMarketCap invited us to âroast themâ for their seventh birthday celebration⊠so we found a few numbers that might make new owner CZ feel the burn.
Following Binanceâs acquisition of CoinMarketCap, we have some great news for Changpeng Zhao: the silver medal is still worth winning.
To celebrate the seventh anniversary of the platformâs launch, CoinMarketCap invited crypto industry participants to âroast themâ today. And weâre happy to oblige.
@Cointelegraph: Since your writers never create any original content, wanna try your hand at being creative for once and roast us? #RoastCMC
â CoinMarketCap (@CoinMarketCap) May 1, 2020
We reviewed the numbers with Jonathan Chu, VP of Product at Blockfolio, to find out if CZ really bought the âtop of the funnelâ â and at least one of the answers isnât in CoinMarketCapâs favor.
Weâre #2 â so weâll try harder
Chu shared internal documents with Cointelegraph that showed the number of page impressions on the Blockfolio app in the month of February. Although we were asked to keep absolute numbers out of this article, we were able to verify that while Blockfolio trails CMC in terms of unique users, it significantly outstrips the data company when it comes to impressions across both web and mobile app â often the first number that marketers and advertisers want to see.
We first compared the install base of both apps. Blockfolioâs installation numbers are almost two orders of magnitude higher than CoinMarketCapâs app, according to data from mobile app analytics company AppAnnie.
We then extrapolated impressions using Amplitude, and credited each app with the same number of impressions per installation. Winner â by over a hundred million impressions? Blockfolio.
We have reached out to CoinMarketCap for specific analytics on their mobile app, but did not receive an immediate response.
From there, we went to SimilarWeb, an industry-standard tool for comparing traffic. On the web CoinMarketCapâs presence dwarfs Blockfolio, with a total viewership of 95,692,200 pages⊠compared to just 217,400 for the portfolio tracking app.
However, even when we added CoinMarketCapâs massive web advantage to the equation, we were still able to conclude that Blockfolio comes out millions of impressions ahead in total.
Ouch, that has to sting
When Binance acquired CoinMarketCap for an undisclosed sum, CZ was quoted as saying âthey have the usersâ and industry insiders suggested that the exchange had bought âthe top of the funnelâ, a marketing term for capturing users and diverting them into revenue-generating products.
But the numbers reviewed by Cointelegraph suggest Binance may still have some way to go before it catches up to the competition â at least, on pure ad impressions.
As Ed Moncada, CEO of Blockfolio, put it:
âGiven how much people refresh our app, I guess itâs not just the size of the boat; itâs the motion of the ocean that counts.â
Roast that.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.