Key points

  • CoinMarketCap said it has completed the acquisition of crypto derivatives analytics provider CoinGlass.
  • CoinGlass will keep its brand and continue operating as an independent business, according to the announcement.
  • The deal adds liquidation heatmaps, open-interest data and funding-rate analytics to CoinMarketCap's broader market-data business.

CoinMarketCap has acquired CoinGlass, bringing a widely used crypto derivatives analytics platform into one of the industry's largest market-data businesses. CoinMarketCap announced the completed transaction on September 25, saying the deal is intended to strengthen its coverage of a market where futures, perpetual contracts and options account for a large share of trading activity. Financial terms were not disclosed.

CoinGlass will remain operationally independent

The buyer said CoinGlass will retain its brand and continue to operate as an independent business. That means its website, mobile application and existing data tools are expected to remain available rather than being immediately folded into CoinMarketCap. The structure reduces near-term disruption for users who rely on CoinGlass dashboards while giving the two companies room to connect their products over time. CoinMarketCap did not announce a timetable for any technical integration.

Related reporting: S&P Global leads $110 million investment in crypto data firm Kaiko

The acquisition fills a derivatives-data gap

CoinGlass is best known for liquidation heatmaps, open-interest charts, funding-rate comparisons and long-versus-short positioning data. Those measurements help traders assess leverage and crowded positioning across centralized exchanges. Independent reporting by U.Today said CoinGlass covers 28 exchanges and more than 2,500 instruments. The platform began in 2019 under the name Bybt before adopting the CoinGlass brand.

CoinMarketCap broadens its market-data reach

CoinMarketCap built its audience around spot prices, market-cap rankings and exchange data. Adding CoinGlass gives it a stronger position in derivatives analytics, where open interest, funding and liquidations often provide context that spot-price charts alone cannot show. In its announcement, CoinMarketCap said most crypto trading volume now occurs in derivatives and described CoinGlass as an early provider that helped make these indicators accessible to a wider audience.

Scale without an immediate product merger

Dealroom reported that CoinGlass serves more than 5 million monthly users and over 10,000 API clients, while estimating CoinMarketCap's monthly audience at about 115 million. Those figures indicate why the combination could matter to both retail and professional market participants, although neither company published audited user statistics with the announcement. For now, the confirmed change is ownership rather than a combined subscription, data feed or application.

What remains unknown

The companies have not disclosed the purchase price, transaction structure or whether CoinGlass management will change. They also have not detailed how data will be shared, whether paid tiers will be revised or when CoinGlass metrics may appear inside CoinMarketCap products. Keeping the businesses separate may preserve continuity, but the practical value of the acquisition will depend on how the companies connect their datasets without reducing transparency about methodology and exchange coverage.

A wider contest over crypto market intelligence

The deal highlights the growing strategic value of derivatives information as crypto markets mature. Liquidation and funding data are now routinely used to explain abrupt price moves, measure leverage and compare risk across venues. By acquiring an established specialist instead of building those tools from scratch, CoinMarketCap gains a faster route into that segment. The arrangement could also expose CoinGlass analytics to a much larger audience if the companies eventually add cross-platform links or shared data views. No such product changes have yet been confirmed. Users will still need to evaluate data quality, exchange definitions and calculation methods rather than treating a larger combined product footprint as a guarantee of accuracy.

Sources

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