CoinMarketCap acquires crypto derivatives data platform Coinglass

CoinMarketCap has acquired Coinglass, the platform traders use to track open interest, funding rates, liquidations and options across the major crypto exchanges. The deal has closed; financial terms were not disclosed.

Founded in 2019, Coinglass covers 28 exchanges and more than 2,500 instruments, and serves over 5 million monthly users and 10,000 API customers. It will keep operating independently under its own brand, with its team, website, app, free tools, API and pricing unchanged.

CoinMarketCap, owned by Binance since April 2020, says 115 million people use its price tracker each month. CEO Rush said the aim is to put Coinglass's view of market positioning in front of far more people, not to change it.

The read: derivatives are most of crypto volume, so leverage data is becoming as basic as the price itself.