CoinMarketCap has announced the completion of its acquisition of the cryptocurrency derivatives data platform Coinglass, with the transaction amount undisclosed. After the acquisition, Coinglass's open interest, funding rates, liquidation, and options data will be integrated into CoinMarketCap's spot price page, displaying leverage positions, liquidation distribution, and rates to users.

Founded in 2019 and formerly known as Bybt, Coinglass covers 28 exchanges and over 2,500 contracts, with more than 5 million monthly active users and over 10,000 API clients. Its liquidation heatmap and funding fee tables are commonly used charts by traders. CoinMarketCap claims to have approximately 115 million monthly users. CEO Rush stated that derivatives are where real risks occur, and Coinglass is the entry point for most people to view these risks.

Officials stated that Coinglass will maintain independent operations and branding, with its website, app, free tools, API, and pricing remaining unchanged, and the original team will continue to develop the product. The two product lines will coexist rather than immediately merging into a single backend. The amount remains confidential, indicating that the value lies primarily in the data entry and established trader habits rather than publicly available revenue multiples.

Derivatives have long accounted for the majority of cryptocurrency trading volume. Price websites lack a leverage layer, requiring users to open another tab to view liquidation and rates; acquiring this layer means integrating spot quotes and contract congestion into the same refresh cycle. If API clients maintain original pricing, short-term revenue will not change due to consolidation, with changes occurring in distribution: 115 million price users will start to see funding fees by default.

In market mechanics, buyers are the traffic platforms that need to complete the contract risk view; sellers are independent data providers that turn liquidation charts into industry infrastructure. Funds will flow from CoinMarketCap's acquisition budget into the founding team and shareholders, while product-side traffic will be directed from professional pages to the price homepage. Beneficiaries are traders who have to open one less website and institutions that can bundle two APIs; those under pressure are second-tier terminals that also sell liquidation and rates, as well as exchanges' data interfaces worried about traffic entry being consolidated by a single group. The independent brand is a stable commitment to API clients, with integration occurring in homepage distribution rather than domain names.

Source: Public Information