"The CEO of Bybit stated that the actual volume of liquidations significantly exceeded the officially reported figures.
Ben Zhou, CEO of the cryptocurrency exchange Bybit, stated that the actual volume of liquidations in the cryptocurrency market significantly surpassed the officially reported data. According to his estimate, the total amount was $8-10 billion, which is substantially higher than the initially reported $2 billion.
On the Bybit platform alone, $2.1 billion worth of positions were liquidated within 24 hours, while the Coinglass service recorded only $333 million due to technical API limitations.
Ben noted that such practices of limiting liquidation data are also typical of other exchanges.
In this regard, Bybit plans to start publishing complete information about liquidations to ensure greater market transparency."
Ben Zhou, CEO of the cryptocurrency exchange Bybit, stated that the actual volume of liquidations in the cryptocurrency market significantly surpassed the officially reported data. According to his estimate, the total amount was $8-10 billion, which is substantially higher than the initially reported $2 billion.
On the Bybit platform alone, $2.1 billion worth of positions were liquidated within 24 hours, while the Coinglass service recorded only $333 million due to technical API limitations.
Ben noted that such practices of limiting liquidation data are also typical of other exchanges.
In this regard, Bybit plans to start publishing complete information about liquidations to ensure greater market transparency."
