CoinMarketCap Acquires CoinGlass, Raising Data Concentration Questions
Binance-owned CoinMarketCap has bought derivatives analytics provider CoinGlass for an undisclosed amount, prompting debate over crypto data concentration.
CoinMarketCap has purchased CoinGlass, a platform focused on cryptocurrency derivatives analytics. Financial terms of the acquisition were not disclosed.
The deal expands CoinMarketCap’s data capabilities across derivatives markets, including open interest, funding rates, liquidation activity and options.
CoinGlass is set to remain independently operated for the time being. The acquisition has nevertheless prompted discussion about the concentration of crypto market data, given Binance’s ownership of CoinMarketCap.
Source: Bitcoin.com News
