Main cryptocurrency monitoring web site CoinGecko is open to acquisitions, however not proper now, based on a co-founder of the platform.

CoinGecko has been hit by the present crypto bear market, however the agency is much from promoting off, CoinGecko chief working officer Bobby Ong informed Cointelegraph.

Ong believes that each one crypto-related corporations are affected by the cyclical nature of the trade as they normally do nicely throughout bull runs and battle throughout bear markets.

“Throughout this crypto winter, we at CoinGecko are equally impacted. This can be our third crypto winter and we’re targeted on enhancing CoinGecko to organize for the eventual bull run that can come once more,” Ong stated.

In response to the chief working officer, CoinGecko had 100 million month-to-month pageviews in July, experiencing an 85% lower in visitors in comparison with the height in November 2021. The visitors decline comes in step with the value motion of Bitcoin (BTC), which reached an all-time excessive above $68,000 final November.

“This has undoubtedly impacted income, as promoting is considered one of our main income drivers and is a operate of pageviews obtained,” Ong famous. He additionally stated that new token listings on CoinGecko dropped about 70% from final 12 months.

Regardless of shrinking revenues and the continued uncertainty across the crypto market, CoinGecko remains to be holding robust when it comes to its headcount. The agency practically doubled its workers over the previous seven months from 30 to 57 group members and has not laid off any workers. CoinGecko hasn’t instituted any hiring freeze as nicely, Ong stated.

“The truth is, we simply paid out a small bonus to all group members for the primary half of 2022 regardless of the bear market. We’re additionally within the strategy of reviewing our salaries to make it extra aggressive to rent and retain the perfect skills,” Ong acknowledged, noting that CoinGecko has a couple of remaining open roles for the remainder of the 12 months.

CoinGecko is the most important rival of CoinMarketCap, the crypto price-tracking web site that was purchased by Binance in April 2020. The acquisition got here throughout the post-2017 crypto winter, with Bitcoin buying and selling between $7,000-8,000 throughout the month of acquisition. Binance has by no means formally introduced the price of the deal, whereas it was rumored to price the agency $400 million.

Following CoinMarketCap’s acquisition, Ong stated that the agency was approached a number of occasions by exchanges, enterprise capitalists and angel buyers, however CoinGecko opted to prioritize independence and keep impartial. The corporate’s views have considerably modified since, as CoinGecko considers it’d promote the platform in the future, Ong stated, stating:

“Sooner or later sooner or later, we can be open to promoting the agency however proper now, it’s too early to promote. The crypto trade remains to be in its first inning and there can be excessive progress within the coming years.”

Ong as soon as once more predicted that “something that may be tokenized can be tokenized sooner or later,” which might require a dependable supply to trace all these tokens.

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“CoinGecko goals to empower the decentralized future by being the foundational infrastructure to assist individuals get the data they want on the hundreds of thousands of tokens that can be listed sooner or later,” the chief famous.

He additionally emphasised that the bear market is the perfect time to give attention to constructing nice merchandise as there may be “considerably much less noise and distraction from short-term developments.”