As the derivatives market demonstrated a strong presence in the cryptocurrency space this year, cryptocurrency data aggregator CoinGecko is adding a new category for derivatives on its platform.
Data will be gathered from more than 100 derivatives and over 20 derivatives exchanges globally with information such as price, open interest, basis, funding rates, expiry dates, and trading volume being made readily available.
The data aggregator will be the first in the cryptocurrency space to provide this kind of information and aims to be a leader in the sector. CEO of CoinGecko TM Lee, speaking on the development said:
“Being a leading crypto data aggregator, CoinGecko aims to lead the industry with innovation and we are proud to be the first to launch such a service,” he commented. “We hope to empower traders with more data that they can use to make better-informed decisions.”
The derivatives market has drawn significant attention this year with offerings from Binance, BitMEX, Bybit and ICE derivatives platform Bakkt which although started slowly is now picking up very fast with steadily increasing daily volumes. CoinGecko finds it necessary to provide vital information about this booming industry of cryptocurrency investing to enable investors make informed decisions.
Users of the platform will be able to examine the derivatives market using three major categories of information namely a derivatives product overview, overview of exchanges, and exchange profiles.
In addition, CoinGecko plans to continue adding new metrics as well as tracking of options. When ready, the derivatives metrics data will be available on the CoinGecko website as well as on the mobile app for users to access and obtain the information they need on derivatives.
Before now, CoinGecko aggregates information on cryptocurrencies including price, charts, market cap, market supply and information on exchanges. It is one of the most popular information gathering platforms in the space and widening its horizon may be a much-needed development as derivatives trading is becoming more popular and projected to outperform spt trading in the near future.