CoinMarketCap Acquires CoinGlass to Expand Crypto Derivatives Data

CoinMarketCap acquires CoinGlass to add crypto derivatives data on open interest, funding rates and liquidations.

CoinMarketCap has acquired CoinGlass, bringing specialized cryptocurrency derivatives data covering open interest, funding rates and liquidations into its broader market-data platform.

Cointelegraph reported the acquisition on Sept. 25, citing the announcement from CoinMarketCap. The financial terms of the transaction were not disclosed. The deal has been completed, with CoinGlass retaining its existing brand and operating structure.

CoinGlass to Continue Operating Under Its Own Brand

CoinGlass will continue operating as an independent business under the CoinGlass name following the acquisition. Its website, mobile application, free analytics tools, API and pricing are expected to remain unchanged, according to the companies.

Founded in 2019, CoinGlass provides data on cryptocurrency derivatives markets, including open interest, funding rates, liquidations and options. Its coverage spans 28 exchanges and more than 2,500 instruments. The platform serves more than 5 million monthly users and more than 10,000 API customers, according to CoinMarketCap.

The acquisition therefore adds a derivatives-focused data business to CoinMarketCap while allowing CoinGlass to maintain its existing products and identity.

Derivatives Data Added to CoinMarketCap's Market Coverage

CoinMarketCap said the acquisition will give its users access to derivatives positioning information alongside cryptocurrency prices and other market data.

That includes visibility into open interest, which tracks outstanding derivatives positions, as well as funding rates and liquidation activity. CoinGlass also provides information on options and other derivatives-related market metrics.

CoinMarketCap said its platform reaches approximately 115 million monthly users. Integrating or exposing CoinGlass data to that audience would place derivatives-focused metrics alongside the spot-market information users already access through the platform.

The companies have not disclosed a detailed technical roadmap for how CoinGlass data will be incorporated into CoinMarketCap's existing interface or services.

Acquisition Expands CoinMarketCap's Data Offering

CoinMarketCap has historically been widely used for cryptocurrency prices, trading volumes and market-capitalization data. CoinGlass, by contrast, specializes in data that shows positioning and activity in leveraged derivatives markets.

The acquisition brings those two areas of market information under the same corporate ownership while preserving CoinGlass's existing operations. CoinMarketCap said the transaction is intended to make derivatives positioning data available to a broader audience without changing the CoinGlass product itself.

CoinMarketCap was acquired by Binance in April 2020. At the time, Binance said CoinMarketCap would continue operating independently and that Binance would not influence its exchange rankings.

For now, the immediate change announced by the companies is the completed acquisition and the addition of CoinGlass's derivatives expertise to CoinMarketCap's broader data ecosystem. CoinGlass will continue operating under its existing brand, with its website, app, free tools, API and pricing unchanged.

writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.