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AI summary of a third-party reportNewsDesk

CoinMarketCap acquires derivatives data platform CoinGlass

CoinMarketCap has bought crypto derivatives tracker CoinGlass for an undisclosed sum, adding leverage and liquidation data to its price coverage.

InvestIn.News NewsDesk · 1 min read
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Picture from CoinTelegraph for: CoinMarketCap acquires derivatives data platform CoinGlass
Image: Cointelegraph
Original reporting: Yohan Yun, Cointelegraph

Key points

  • CoinMarketCap acquired CoinGlass for an undisclosed amount, announced on Friday.
  • CoinGlass keeps its brand, team, website, app, free tools, API and pricing unchanged.
  • CoinGlass tracks open interest, funding rates, liquidations and options.
  • It covers 28 exchanges and more than 2,500 instruments, per the announcement.
  • Binance bought CoinMarketCap in April 2020 and said it would keep it independent.

CoinMarketCap has acquired the crypto derivatives data platform CoinGlass for an undisclosed amount, Cointelegraph reports. The deal expands CoinMarketCap's coverage of leveraged trading across major exchanges, according to the announcement made on Friday.

CoinGlass will keep operating under its existing brand, and its team will stay in place. Its website, app, free tools, API and pricing will all remain unchanged after the acquisition, the company said.

The platform tracks open interest, funding rates, liquidations and options. According to the announcement, it covers 28 exchanges and more than 2,500 instruments.

CoinMarketCap buys CoinGlass

CoinMarketCap said the acquisition would give its users access to derivatives positioning data alongside cryptocurrency prices. That includes information on where liquidations cluster and how funding rates are moving.

The purchase adds a derivatives layer to a business best known for listing token prices and market capitalisations. Derivatives data has become more closely watched as leveraged trading grows across major venues.

CoinMarketCap itself was acquired by the crypto exchange Binance 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.

Derivatives data coverage

Cointelegraph also noted a magazine piece suggesting HYPE's price could suffer as Binance takes its revenue, attributed to Alice Liu. The report carried no further details on the value of the CoinGlass deal or a completion timetable.

Read the full story on Cointelegraph

Desk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Cointelegraph’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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