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CoinMarketCap buys CoinGlass to expand crypto derivatives data

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CoinMarketCap buys CoinGlass to expand crypto derivatives data

Written by Yohan Yun staff editor Reviewed by Michael Millard staff writer

CoinGlass will retain its brand and team, while its website, app, free tools, API and pricing will remain unchanged following the acquisition.

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.

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Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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