Coinmarketcap has acquired Coinglass, a derivatives analytics platform, combining two major crypto data services under single ownership. Financial terms were not disclosed.
Coinglass tracks open interest, funding rates, liquidations, long-short positioning, and options activity across 28 exchanges and over 2,500 instruments. The platform serves approximately 5 million monthly users and maintains more than 10,000 API customers. Coinmarketcap reaches roughly 115 million users monthly.
Expanding Market Data Capabilities
The acquisition expands Coinmarketcap's offerings beyond price tracking and rankings into derivatives data where much of crypto markets' risk is concentrated. Coinmarketcap plans to integrate Coinglass metrics including open interest, liquidations, funding rates, and options data into its broader platform.
Coinglass will continue operating under its existing name. The company stated that its website, mobile app, free tools, APIs, and pricing will remain unchanged for now.
Data Concentration Raises Questions
The deal has attracted scrutiny because Coinmarketcap itself was acquired by Binance in 2020. The earlier transaction price was not officially disclosed, though reporting at the time suggested the deal could have been valued as high as $400 million.
Some observers have raised concerns about data concentration. White Whale Labs questioned whether Coinglass data would remain fully trusted under Binance ownership, while noting the acquisition creates a more vertically integrated data stack within a single ecosystem.
Industry participants are asking how much crypto market information should be consolidated under one corporate roof as Coinglass, one of crypto's most-used derivatives tools, now sits within the same ownership structure as one of the industry's largest price platforms.
