Türkçe
Español
Crypto exchange Bybit announced that the total liquidation amount on its platform in the last 24 hours reached 2.1 billion. The company’s CEO, Ben Zhou, stated that this figure is significantly lower than the actual liquidation values across the broader market. According to Zhou, the true liquidation amount in the crypto market could be around 8-10 billion. Bybit has pledged to share all liquidation data to enhance transparency.
Bybit CEO: Real Figures Are Much Higher
In a statement via social media, Zhou expressed that data provided by sources such as Coinglass is inadequate. He confirmed that the liquidation amount at Bybit was 2.1 billion, yet Coinglass reported only 333 million for Bybit. He emphasized that limitations in API connectivity prevent the full data from being transmitted instantly.
Zhou indicated that not only Bybit but also other major crypto exchanges face similar limitations. He remarked that the real liquidation amounts are not fully communicated to users due to the instantaneous data transfer capacity of exchanges. Zhou highlighted that crypto investors demand greater transparency, and Bybit is committed to addressing this issue.
Bybit to Share All Liquidation Data
Bybit has decided to publish all liquidation data to facilitate healthier market operations. Zhou announced that the exchange would now share complete liquidation data and make this information accessible to a wider audience.
The crypto market sees high volatility during liquidation phases, making accurate data access critical for investors to assess risks properly. Bybit’s transparency initiative could lead to significant changes in the industry. This decision is particularly vital for traders engaging in leveraged transactions, setting a precedent for other exchanges in the crypto space.
