CoinMarketCap Buys CoinGlass to Bring Derivatives Data to 115 Million Users

CoinMarketCap has acquired crypto derivatives analytics platform CoinGlass, combining one of crypto’s largest price-tracking platforms with one of its most widely used sources for liquidation, open-interest and funding-rate data. The completed deal will eventually bring deeper derivatives information to CoinMarketCap’s reported 115 million monthly users while allowing CoinGlass to continue operating under its own brand.

CoinMarketCap Adds CoinGlass to Its Data Empire

CoinMarketCap announced the acquisition on September 25, confirming that the transaction has already closed.

Financial terms weren’t disclosed.

Founded in 2019, CoinGlass has become a major analytics platform for traders looking beyond simple cryptocy prices.

Its platform currently covers:

• More than 28 crypto exchanges

• Over 2,500 trading instruments

• More than 5 million monthly users

• Over 10,000 API customers

• Data covering open interest, funding rates, liquidations, options, long/short ratios and ETF flows

CoinMarketCap says the acquisition will allow it to place more of that information alongside the spot-market prices millions of crypto users already monitor.

Why Derivatives Data Matters

Looking at Bitcoin’s price tells only part of what’s happening in the market.

Crypto derivatives can reveal how traders are positioned behind that price.

Open interest shows the value of outstanding derivatives positions. Funding rates can indicate whether leveraged traders are leaning heavily long or short, while liquidation data can show areas where leveraged positions may be vulnerable to sudden price movements.

CoinGlass has become particularly known for its liquidation heatmaps, which traders use to visualize concentrations of leveraged positions across the market.

CoinMarketCap says derivatives represent the majority of crypto trading volume, making the data increasingly important for understanding market activity beyond traditional spot prices.

CoinGlass Isn’t Going Away

Despite being acquired, CoinGlass isn’t disappearing.

The company says it will continue operating as an independent business under the CoinGlass name.

Its:

Website, mobile app, free analytics tools, API and pricing will remain unchanged.

CoinGlass’s existing team will also continue developing the platform.

CoinMarketCap CEO Rush described the strategy as expanding CoinGlass’s reach rather than rebuilding the product, saying CoinMarketCap wants to expose its derivatives insights to a much larger audience while leaving the existing service intact.

115 Million Users Get a Deeper Look at Crypto Markets

CoinMarketCap reports approximately 115 million monthly users, compared with CoinGlass’s more than 5 million.

That distribution is a major part of the deal.

Instead of users checking CoinMarketCap for prices and then switching to a specialist platform to understand leveraged positioning, CoinMarketCap plans to bring more of those datasets together.

Users could eventually see a cryptocy’s price alongside information showing:

How much leverage is building, whether traders are predominantly long or short, how funding rates are changing and where large concentrations of liquidations could occur.

That could make advanced derivatives analytics more accessible to crypto users who previously focused primarily on spot-market prices.

Binance Still Owns CoinMarketCap

The acquisition also expands a crypto data company that already sits inside a much larger ecosystem.

Binance acquired CoinMarketCap in April 2020. At the time, the companies said CoinMarketCap would continue operating independently and that Binance wouldn’t influence its rankings.

CoinGlass now joins CoinMarketCap under that broader ownership structure while maintaining its own brand and operations.

The acquisition therefore gives CoinMarketCap considerably deeper coverage of the market data generated by leveraged crypto trading without eliminating CoinGlass as a standalone platform.

Crypto Data Platforms Continue to Consolidate

The deal reflects how sophisticated crypto-market data has become.

During earlier crypto cycles, checking Bitcoin’s price, market capitalization and trading volume could provide a basic picture of market activity.

Today’s market is considerably more complicated.

Perpetual futures, options, ETFs and highly leveraged trading can have significant effects on price movements. Liquidation cascades alone can wipe out billions of dollars in leveraged positions during periods of extreme volatility.

That’s why metrics such as open interest, funding rates and liquidation clusters have become increasingly important for understanding what’s happening underneath headline prices.

CoinMarketCap’s acquisition of CoinGlass brings those two sides of crypto analytics closer together. CoinMarketCap built its audience by showing users what crypto assets are worth. CoinGlass built its reputation by showing traders how leverage and derivatives are positioned behind those prices. Putting both datasets under the same company could give millions of users a much broader view of what’s actually moving the crypto market.