Crypto Exchange Bybit said Friday that all liquidation data will be accessible via API enhancements.
BYBIT released its liquidation data through an upgraded API a few weeks after CEO Ben Zhou questioned Coinglass' estimate of Bitcoin liquidation. In a press release on February 21, Bybit said the update will provide traders, analysts and institutions with real-time access to detailed market activities, with updates every 500 milliseconds.
“This ensures that all liquidation events are captured and disclosed without delay, setting new standards for openness and reliability in the digital asset market.”
Bybit
Zhou calls the move “a proactive approach to addressing the demand for openness in the crypto community,” saying it gives traders and analysts access to “complete and real-time market data.”
According to Bybit, the update will correct gaps in reported liquidation data that were previously restricted by API restrictions. Coinglass has already integrated Bybit's liquidation data into the system.
Earlier this month, Crypto Traders suffered a major loss as more than $2.2 billion clearings hit the market. Bitcoin (BTC) fell to $91,000, while Ethereum (ETH) crashed 20% in one day. Analysts using Coinglass data said wipeouts were greater than Covid Crash or FTX collapse.
However, Zhou proposed in X that Coinglass numbers could have been underreported due to API restrictions set by Bybit. He also suggested that other platforms may have similar limitations, but they did not name them.
