Coinmarketcap buys derivatives data platform Coinglass
Binance-owned Coinmarketcap has acquired Coinglass, adding derivatives data on 28 exchanges to its platform, a deal that has raised questions about data concentration in crypto.
Key points
- Coinmarketcap completed the acquisition of Coinglass on Friday, Sept. 25, for an undisclosed sum.
- Coinglass covers 28 exchanges and more than 2,500 instruments, with over 5 million monthly users and more than 10,000 API customers.
- Coinmarketcap says its own platform reaches roughly 115 million users each month.
- Coinglass will keep operating under its own brand, with its website, app, free tools, APIs and pricing unchanged for now.
- Binance acquired Coinmarketcap in 2020 in a deal reportedly worth as much as $400 million, mostly in equity and BNB.
Coinmarketcap has acquired the crypto derivatives analytics platform Coinglass for an undisclosed sum, according to a company statement on Friday, Sept. 25. The deal adds open interest, funding rates, liquidations, long-short positioning and options data to one of the industry's largest market-data platforms. Coinglass will continue operating independently for now, but the purchase has already sparked debate over data concentration, because Coinmarketcap is owned by Binance.
Coinglass covers 28 exchanges and more than 2,500 instruments, and reportedly serves over 5 million monthly users, with more than 10,000 API customers. Coinmarketcap says its own platform reaches roughly 115 million users each month. The combination gives the buyer a much broader view of how leverage is building across crypto markets, moving it beyond price tracking into the deeper plumbing of market structure.
Coinmarketcap already dominates the retail-facing layer of crypto market data, including prices, rankings and asset information. Coinglass supplies the derivatives side, where much of the market's risk is expressed. Coinmarketcap CEO Rush said derivatives are where most of the market's risk is taken, and Coinglass is where most people go to see it.
Coinmarketcap adds derivatives data
Coinmarketcap plans to integrate Coinglass data into its wider market-data offering, including open interest, liquidations, funding rates and options metrics. For users, that could mean fewer jumps between platforms to understand both what moved and why. Coinglass will keep operating under its existing name, and the company said its website, mobile app, free tools, APIs and pricing will remain unchanged for now.
That reassurance matters because Coinglass has built a distinct following among active traders who use its heatmaps and derivatives dashboards as part of daily crypto market analysis. The company said it will continue to operate as an independent business under the Coinglass brand.
The acquisition is attracting attention because Coinmarketcap itself was acquired by Binance in 2020. The transaction price was never officially disclosed, though reporting at the time suggested the deal could have been worth as much as $400 million, with much of the consideration reportedly structured in equity and BNB. That ownership link is now prompting concerns from some crypto traders.
Coinglass keeps its brand
White Whale Labs questioned whether data from Coinglass would remain fully trusted under the broader Binance umbrella. Web3 educator Katherine described the deal as creating a more vertically integrated data stack, with spot prices, rankings, open interest, funding rates, liquidations and options increasingly sitting within the same ecosystem. Those concerns are about perception as much as product functionality, and they raise a bigger question about how much crypto market information should sit under one corporate roof.