Bybit, a pioneer in the industry, has announced the comprehensive upgrade of its API to fully disclose all liquidation data on its platform to a wide user base. CoinGlass has integrated the latest liquidation data provided by Bybit into its interface, allowing users to accurately analyze various market events in a visual format.
(Background: Is liquidation data severely underestimated? Bybit: Yesterday, the total network liquidation was around $8-10 billion, and the exchange data is not transparent enough.)
(Additional Context: Pi coin falls below $1; Bybit CEO reiterates that it will not be listed: Pi Network is a scam.)
This article is a press release written and provided by Bybit and does not represent the position of Dong Area.
Today, Bybit, the world’s second-largest cryptocurrency exchange, announced the launch of an industry-first initiative to fully disclose all liquidation data on its platform through a comprehensively upgraded API.
Thanks to this bold move, Bybit will significantly enhance market transparency, enabling institutional investors, analysts, and trading users to access real-time and in-depth market dynamics, thus gaining a decisive advantage in the rapidly evolving cryptocurrency landscape.
To align with the cryptocurrency community’s current demand for high transparency, Bybit has enhanced its API functionality through the latest WebSocket topic—“All Liquidations.” Unlike the previous limitation of one message per transaction per second, the newly upgraded data stream can now provide real-time liquidation data every 500 milliseconds, ensuring that every liquidation event is recorded and disclosed in real-time. This will help improve the openness of the virtual asset market while enhancing trading reliability with a new standard.
Ben Zhou, Co-Founder and CEO of Bybit, stated, “The true meaning of cryptocurrency lies in transparency. By publicly disclosing all liquidation data, we are actively responding to the cryptocurrency community’s demand for high market openness, ensuring that trading users and analysts have complete and timely access to market data, allowing them to make informed decisions.”
Revealing Market Reality
Ben recently emphasized the importance of providing accurate liquidation data to the market and pointed out that the limitations of the API have historically prevented industry data from fully reflecting the true scale of market activities. Currently, Bybit’s API updates are set to resolve this issue and ensure that all liquidation events are comprehensively and immediately disclosed, providing traders with a more complete and transparent market picture.
The following measures will bring significant benefits to the cryptocurrency investment community:
– Market Transparency: A comprehensive understanding of liquidation events allows users to further grasp the true depth of the market, conduct more precise analyses of market trends and the behaviors of other investors, greatly enhancing confidence.
– Risk Management: Real-time data helps investors accurately identify support and resistance levels of assets, allowing for more precise predictions of volatility peaks and refining risk management frameworks.
– Strategic Advantage: With detailed and unfiltered market data, investors can plan future trading strategies, backtest, and develop predictive models ahead of others, which is particularly important for institutions aiming to maximize returns in the cryptocurrency market.
This initiative by Bybit will reshape the industry landscape, and the platform’s commitment to transparency has already stirred waves in the sector. Currently, the industry-leading cryptocurrency analysis platform CoinGlass has integrated the latest liquidation data provided by Bybit into its interface, allowing a wide user base to analyze various market events accurately in visual formats.
Further Injecting Confidence into Institutional Investors
Institutional investors are accelerating their adoption of cryptocurrency. Bybit’s commitment to complete transparency indicates that the market is maturing and is ready for sophisticated capital. Bybit is dedicated to providing a reliable data foundation, greatly boosting the confidence of hedge funds, asset management firms, and trading companies seeking partners.
About Bybit
Bybit, as the second-largest cryptocurrency exchange by trading volume globally, serves over 60 million users worldwide. Since its establishment in 2018, Bybit has been committed to building a simpler, more open, and equitable ecosystem, redefining the openness of the decentralized world. We delve deeply into the Web3 space, establishing strategic alliances with top blockchain protocols, providing robust infrastructure, and driving on-chain innovation.
With secure and reliable asset custody, a diversified trading market, an intuitive user experience, and cutting-edge blockchain tools, Bybit has successfully bridged the gap between traditional finance and decentralized finance, empowering developers, creators, and enthusiasts to fully explore the infinite potential of Web3.
Visit Bybit.com to explore the future path toward centralized finance.
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