Binance’s affiliated crypto data platform CoinMarketCap (CMC) announced the acquisition of the derivatives data website CoinGlass. The deal amount was not disclosed. This means that, in addition to having one of the main entry points to global crypto spot prices and market capitalization, the Binance ecosystem will further bring derivatives data such as open interest, funding rates, liquidations, and options into its portfolio. CoinGlass will retain its brand and maintain independent operations; its existing website, app, free tools, API, and pricing plans will remain unchanged.
CoinMarketCap CEO Rush said that derivatives are where most real risk in the crypto market actually materializes, and that CoinGlass has become an important entry point for market-observing traders’ positions. The goal of this acquisition is to bring CoinGlass’s derivatives data to more CMC users, rather than change CoinGlass itself. “CoinGlass stays CoinGlass, and nothing changes for its users.”
CoinGlass also said via its official X that after joining CoinMarketCap, it will still maintain its brand and independent business—“everything you use today won’t change,” including the website, app, free tools, API, and prices.
CoinGlass has more than 5 million monthly active users, covering 28 exchanges and 2,500+ products
CoinGlass was founded in 2019 and mainly provides crypto derivatives market data, including:
Open Interest
Funding Rate
Long/Short Ratio
Liquidation / Cleared Position Data
Options
ETF Fund Flows
Currently, CoinGlass covers 28 exchanges and more than 2,500 tradable products. It has more than 5 million monthly users, and its API customers exceed 10,000. Among them, liquidation heatmaps, open interest dashboards, and funding rate tables have become some of the most frequently cited market charts in the crypto trading community.
In contrast, CoinMarketCap’s monthly users are about 115 million. CMC said that after acquiring CoinGlass, it can help users who previously mainly checked spot prices, market caps, and trading volume also understand how leveraged traders are positioning themselves, where liquidations tend to be concentrated in terms of price levels, and how funding rates are changing.
CoinMarketCap product lead David Salamon said that open interest, funding rates, and liquidation data are the true indicators that reflect where market risk is being taken. In the past, CoinGlass’s biggest contribution was making these derivative-market data—previously more technical—easy for everyday traders to understand.
CoinMarketCap fills the derivatives data gap
The most direct meaning of this acquisition is to enable CoinMarketCap to move beyond its traditional “price and market cap entry point” and add derivative market data. CoinMarketCap was acquired by Binance in 2020, when its trading volume was reported to be as high as $400 million. Since then, CMC has continued to operate as an independent brand, but its ownership belongs to Binance.
Now, when CMC acquires CoinGlass again, Binance’s data assets extend from spot price quotes and market ranking further into key derivative-market indicators such as leverage, funding rates, and liquidation data.
In the crypto market, derivatives trading volume has long been higher than the spot market. Especially for large assets like BTC and ETH, leverage positions in perpetual contracts, funding rates, and liquidations often directly affect short-term price movements.
CoinMarketCap’s past core advantage lies in its spot price quotes, market ranking, and token database; CoinGlass is more of a leveraged and derivatives analytics tool used by traders. After combining the two, CMC can extend from “what is the price right now” to “how much leverage the market is using right now, which side positions are leaning toward, and where large-scale liquidations may occur.”
This article: Crypto data platform CoinMarketCap acquires CoinGlass, and brings the derivatives data entry point under its umbrella—first appearing on Chain News ABMedia.