CoinMarketCap Acquires CoinGlass to Expand Crypto Derivatives Data
(7 days ago) · 1 source · Summarized by CryptoBipto
CoinMarketCap has acquired CoinGlass, a platform known for providing data on crypto derivatives markets. The deal is aimed at expanding CoinMarketCap's coverage of futures, options, and other derivatives data for its users.
WHY IT MATTERS
If you have ever checked the price of Bitcoin or another cryptocurrency online, there is a good chance you used CoinMarketCap. It is like a scoreboard for crypto prices and market data. CoinGlass is a similar tool, but it focuses on "derivatives" — these are financial contracts whose value is based on the price of a cryptocurrency, rather than the cryptocurrency itself. Think of it like the difference between buying a house and betting on whether the house's price will go up or down. By acquiring CoinGlass, CoinMarketCap is adding a new section to its scoreboard that covers these types of bets, giving users a more complete picture of crypto market activity.
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- cointelegraph.com
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