CoinMarketCap has announced its acquisition of CoinGlass, a platform specializing in crypto derivatives data, for an undisclosed amount. This move aims to broaden CoinMarketCap's coverage of leveraged trading across various exchanges.
Following the acquisition, CoinGlass will retain its brand identity and team, ensuring that its website, app, free tools, API, and pricing structure remain unchanged. This continuity will allow existing users to benefit from the same services they are accustomed to.
CoinGlass offers crucial data such as open interest, funding rates, liquidations, and options across 28 exchanges and over 2,500 instruments. This comprehensive data will now be integrated into CoinMarketCap's platform, enhancing user access to derivatives positioning information alongside cryptocurrency prices.
With this acquisition, CoinMarketCap aims to provide its users with deeper insights into where liquidations cluster and how funding rates are evolving, thereby enriching their trading experience.
It's worth noting that CoinMarketCap was previously acquired by Binance in April 2020, which stated that the platform would operate independently without influence over its rankings.