CoinGecko, a major cryptocurrency price tracking website. may be open to acquisitions in the future but not now According to the platform’s co-founder
CoinGecko has been hit by the current crypto bear market, but the company is far from a divestment, CoinGecko Chief Operating Officer Bobby Ong told Cointelegraph.
Ong believes that all crypto-related companies are affected by industry cycles. Because they tend to do well in uptrends and struggle during bear markets.
“In the crypto winter, we at CoinGecko were also affected. And this is our third crypto winter. And we continue to focus on improving CoinGecko in preparation for another bull run,” Ong said.
According to CoinGecko’s chief operating officer, there were 100 million monthly page views in July. It saw an 85% drop in traffic compared to its peak in November 2021, where the drop in traffic coincided with the price movement of Bitcoin (BTC), which reached an all-time high above $68,000 last November. last
“This definitely affects earnings. This is because advertising is one of our main revenue drivers,” Ong said. He also said that the list of new tokens on CoinGecko is down about 70 percent from last year.
Despite falling revenues and continuing uncertainty in the market, CoinGecko remains strong in terms of headcount. The company has nearly doubled its workforce in the past seven months. From 30 team members to 57 people and have not laid off any employees.
“Actually, we just paid a small bonus to all our team members in the first half of 2022 even though the bear market is in a downtrend. We are still considering our salaries to make it more competitive to hire and retain the best talent,” Ong said, noting that CoinGecko has a few more positions open for the rest of the year.
CoinGecko is the biggest competitor of CoinGecko. CoinMarketCap This is a crypto price tracking website that Binance bought in April 2020, where the acquisition took place in the crypto winter.
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