CoinMarketCap Acquires CoinGlass to Enhance Derivatives Data Access
- CoinMarketCap has acquired CoinGlass for an undisclosed amount.
- CoinGlass will maintain its brand, team, website, app, free tools, API, and pricing structure.
- The platform tracks open interest, funding rates, liquidations, and options across over 28 exchanges and more than 2,500 instruments.
- This acquisition aims to provide users with enhanced access to derivatives positioning data alongside cryptocurrency prices.
- Binance previously acquired CoinMarketCap in April and stated that it would operate independently.
The acquisition of CoinGlass by CoinMarketCap enhances the platform’s offerings by integrating comprehensive derivatives data into its existing services. This move is significant as it allows users to access critical information on liquidations and funding rates.
With this acquisition, users will benefit from improved insights into trading dynamics across major exchanges as CoinMarketCap expands its capabilities in the derivatives market.(Source)
