CoinMarketCap, bought by Binance in 2020, acquires CoinGlass and its exchange-by-exchange leverage data

CoinMarketCap has acquired CoinGlass, the crypto derivatives data site whose liquidation heatmaps and funding-rate tables are a staple of trader chatter, for an undisclosed price. CoinGlass keeps its brand and team, and its website, app, free tools, API and pricing will not change, according to CoinMarketCap's announcement and Cointelegraph.

What changes hands

CoinGlass, founded in 2019, covers 28 exchanges and more than 2,500 instruments, and says it serves more than 5 million monthly users and 10,000 API customers. It tracks open interest, funding rates, liquidations and options. CoinMarketCap says it has 115 million monthly users and plans to show CoinGlass positioning data next to the prices those users already check.

The pitch is simple: derivatives are most of crypto trading, and a price page that ignores leverage shows only half the market. For a trader, that means data such as where liquidations cluster and whether funding rates are running hot will sit a click away from the price.

The part the announcement leaves out

Crypto exchange Binance bought CoinMarketCap in April 2020, Cointelegraph noted. At the time, Binance said the site would run independently and that the exchange would have no say over its rankings. The CoinMarketCap announcement does not mention Binance.

That ownership matters more for CoinGlass than for a price tracker. CoinGlass's dashboards compare Binance with other venues, including Bybit, OKX, Hyperliquid and CME. Open interest by exchange, liquidation totals and funding-rate spreads are exactly the figures traders and reporters use to judge where leverage is building and which venue is winning market share. Those numbers now sit inside the company Binance bought, one of the exchanges being measured.

Nothing in the announcement suggests the data will be handled differently, and CoinMarketCap says CoinGlass will keep operating as it does now. But for anyone who relies on CoinGlass for exchange comparisons, the sensible habit is the one that already applied to CoinMarketCap's rankings: check figures that matter against the exchanges' own disclosures or a second data provider.

Live prices: crypto prices.

Sources: CoinMarketCap; Cointelegraph; CoinGlass. This is market information, not investment advice.