Home / Business and Economy / CoinMarketCap Acquires CoinGlass for Derivatives Data
CoinMarketCap Acquires CoinGlass for Derivatives Data
26 Sep
Summary
- CoinMarketCap acquired CoinGlass, a crypto derivatives data platform.
- CoinGlass will keep its brand, team, and services unchanged post-acquisition.
- The acquisition enhances CoinMarketCap's data with derivatives positioning insights.
CoinMarketCap has acquired the crypto derivatives data platform CoinGlass. CoinGlass will continue to operate independently under its established brand. Its team, website, application, free tools, API, and pricing will remain unchanged following the acquisition, ensuring a seamless transition for its users.
This acquisition by CoinMarketCap, which is itself owned by Binance since April 2020, is set to significantly expand its coverage of leveraged trading data. CoinGlass specializes in tracking key derivatives metrics such as open interest, funding rates, liquidations, and options across 28 exchanges and over 2,500 instruments.
The integration will provide CoinMarketCap users with access to crucial derivatives positioning data. This includes insights into liquidation clusters and funding rate movements, complementing existing cryptocurrency price information. The move aims to offer a more comprehensive suite of tools for traders analyzing the cryptocurrency market.
