CoinMarketCap Acquires Crypto Derivatives Data Platform CoinGlass
Quick Look
- CoinMarketCap has acquired crypto derivatives data provider CoinGlass for an undisclosed sum.
- CoinGlass will maintain its brand and team, providing CoinMarketCap users with integrated access to leveraged trading data, including liquidations and funding rates.
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Why It Matters
Binance acquired CoinMarketCap in April 2020, maintaining the platform's operational independence.
CoinMarketCap has acquired crypto derivatives data platform CoinGlass for an undisclosed amount, expanding its coverage of leveraged trading across major exchanges.
CoinMarketCap announced Friday that CoinGlass will continue operating under its existing brand, with its team remaining in place. Its website, app, free tools, API and pricing will be unchanged.
CoinGlass tracks open interest, funding rates, liquidations and options. It covers 28 exchanges and more than 2,500 instruments, according to the announcement.
CoinMarketCap said the acquisition would give its users access to derivatives positioning data alongside cryptocurrency prices, including information on where liquidations cluster and how funding rates are moving.
Crypto exchange Binance acquired CoinMarketCap in April 2020. At the time, Binance said the platform would continue operating independently and that the exchange would have no influence over its rankings.
Open Questions
- What was the financial value of the acquisition?
