CoinMarketCap Acquires CoinGlass, Bringing Derivatives Data to 115 Million Users
Key Takeaways
- •CoinMarketCap has completed the acquisition of crypto derivatives tracker CoinGlass, with neither company disclosing the purchase price.
- •CoinGlass's liquidation, funding rate, and open-interest data will be integrated into CoinMarketCap, reaching its audience of roughly 115 million monthly users.
- •Since 2019, CoinGlass has tracked more than 2,500 instruments across 28 exchanges and serves over 5 million monthly users and 10,000 API customers.
- •CoinMarketCap CEO Rush pledged that CoinGlass's website, app, free tools, API, fee schedule, and team will remain unchanged following the acquisition.
- •The deal follows other recent crypto data sector transactions, including Blockworks' acquisition of Messari in June and S&P Global's extension of Kaiko's Series B to $110 million in September.
CoinMarketCap will add CoinGlass's liquidation, funding rate, and open-interest data for its roughly 115 million monthly users after acquiring the crypto derivatives tracker, the companies said in an announcement on Friday. The deal has been completed, and neither side disclosed the price.
The move puts leverage metrics long used by active derivatives traders in front of one of crypto's largest mainstream audiences — and comes as CoinMarketCap says derivatives, not spot trading, now account for most of the market's volume.
What CoinGlass brings
CoinGlass has been tracking more than 2,500 instruments across 28 exchanges since 2019. CoinMarketCap said the derivatives specialist counts more than 5 million monthly users and 10,000 API customers, and that its liquidation heatmap — a chart showing where leveraged positions are forcibly closed — has become one of the charts traders pass around most.
Funding rates, the periodic payments that keep perpetual futures prices aligned with spot prices, and open interest, the total value of outstanding derivatives contracts, are among the most closely watched gauges of leverage in crypto markets. Traders watch them to gauge where leveraged positions are concentrated — levels where forced closures can cluster during volatile moves.
Continuity promised for users
CoinMarketCap chief executive Rush promised CoinGlass users would notice no difference. The tracker's website, app, free tools, API, and fee schedule all remain unchanged, as does its team, CoinGlass said — meaning existing users keep their tools while the data is folded into CoinMarketCap's own product.
"CoinGlass made leverage data accessible to the average trader," said David Salamon, CoinMarketCap's chief product officer.
CoinMarketCap plans to display leverage data alongside its spot prices and said derivatives now make up most of crypto's trading volume. For readers, the clearest sign of the deal taking effect will be when liquidation and funding-rate figures start appearing next to the platform's price pages.
Binance ownership and sector consolidation
Binance has owned CoinMarketCap, a cryptocurrency price aggregator launched in 2013, since April 2020. When Binance bought the platform, it said the website would remain independent and that the exchange would not influence its rankings.
The deal adds to a run of recent transactions in the crypto data sector: Blockworks acquired rival data company Messari in June, while S&P Global led an extension of Kaiko's Series B to $110 million in September, according to Cryptopolitan. Together, the transactions underline how market data — long a staple of traditional finance — has become a focus of dealmaking in crypto as well.
