Bybit Chief executive Ben Zhou He has challenged reports that the liquidation of today's crypto market was only $ 2 billion. Instead, Zhou suggested that the actual number could range from $ 8 billion to $ 10 billion.
Chapter pointed Bybit's internal data that registered $ 2.1 billion in the last 24 hours alone. This number exceeds a distance of $ 333 million listed CoinglassOffering a significant issue of a sub -report.
Zhou admitted that exchange, including Bybit, imposes restrictions on API, which often restrict data update.
He promised to increase transparency, ensuring that Bybit publishes complete liquidation records.
Distortion of data
Zhou's statement corresponds to K33 Research Research Head of Research disputed These liquidation data have been unreliable since mid -20121.
He explained that important exchanges including BinanceTo do, Okxand Bybithave applied restrictions on their Websocket API, limiting the liquidation reports to one second. This policy significantly reduces the actual volumes.
The liquidation takes place when traders can no longer maintain amplified positions due to insufficient funds. Although it is common in the crypto fluctuating market, the extent of today's wiping is one of the largest memory. It exceeds the liquidation that triggered Terra/Luna Demolition and FTX collapse.
The liquidation data is a crucial indicator of mood, leverage and risk trends in the market. However, some shifts may prefer to hide the extent of the liquidation to maintain the trust of the trader.
Lunde argued that exposing the exact extent of the losses could prevent users, while controlled reporting offers shifts with a strategic advantage.
In addition, specific trading platforms are related to investment firms that benefit from selective market data.
Snow concluded:
“You can hallucin and visit the dominance of liquidation and the relevant exchange of open interest in pre-API. This approach assesses the volume of more realistic liquidation, but it is still wrong because it does not take into account the changing behavior of the markets over the past three years, while exaggerating strange unique elimination.
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