February 20, 2024

CoinGecko Data Aggregator Starts Tracking Over 20 Cryptocurrency Derivatives

Cryptocurrency market data aggregator CoinGecko has added a new service to track more than 20 cryptocurrenciesderivatives.

CoinGecko tracks about 100 products, amongwhich have perpetual swaps and futures on 20 derivatives exchanges. In addition, the aggregator provides data on the price, interest, the difference between the prices of the futures contract and the underlying asset, financing rates, contract expiration dates and trading volumes.

CoinGecko CEO TM Lee said that in the future the company plans to add additional indicators, including for options and tokens with borrowed funds.

“We want to provide traders with a large volumeinformation on the basis of which they will be able to make an informed decision. We see great potential in cryptocurrency derivatives and try to make access to data more democratic, ”said Lee.

At the same time, CoinGecko has not yet posted products fromwell-known suppliers of derivatives CME and Bakkt. Lee clarified that the service needs reliable APIs to collect data. Once this issue is resolved, most likely, the platforms will be added to the data aggregator.

CoinGecko launched a new service asadditions to the Trust Score metric, which provides transparent data from exchanges. Trust Score was launched in May 2019 following Bitwise's claim that 95% of cryptocurrency exchanges engage in wash trading to manipulate the market and hide real trading volumes.

Let us remind you that this month the World FederationExchange (WFE), which includes the Chicago Mercantile Exchange (CME) and the US Nasdaq exchange, has called on the UK Financial Conduct Authority (FCA) not to ban cryptocurrency derivatives.