Bybit , the world’s second largest cryptocurrency exchange, today announced an industry-first initiative to fully disclose all liquidation data on the platform to its users through a fully upgraded API. With this bold move, Bybit will be able to radically improve market transparency while providing institutional investors, analysts, and traders with real-time and in-depth market dynamics, gaining an absolute advantage in the rapidly evolving cryptocurrency space.
In line with the current cryptocurrency communitys pursuit of high transparency, Bybit has enhanced its API capabilities through the latest WebSocket theme - All Liquidations . Unlike the previous limit of one message per second for each transaction, the fully upgraded data stream can now provide real-time liquidation data every 500 milliseconds, ensuring that each liquidation event can be recorded and disclosed in real time, which will help the virtual asset market to increase openness and strengthen transaction reliability with a new standard.
Ben Zhou, Co-founder and CEO of Bybit, said: “The true meaning of cryptocurrency is transparency. By making all liquidation data publicly available, we are actively responding to the cryptocurrency community’s demand for greater market openness, ensuring that traders and analysts have access to complete and real-time market data to help them plan their strategies at all times.”
Disclosure of market conditions
Ben recently stressed the importance of providing accurate liquidation data to the market, noting that API limitations have prevented industry data from fully reflecting the true scale of market activity. Bybit’s API update is now addressing the issue and ensuring that all liquidation events are fully disclosed in real time, providing traders with a more complete and transparent picture of the market.
The following initiatives 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 accurate analysis of market trends and the behavior of other investors, and greatly enhance confidence.
• Risk Management: Real-time data helps investors accurately identify the support and resistance levels of an asset, thereby more accurately predicting volatility peaks and improving the risk management framework.
• Strategic advantage: With detailed and unfiltered market data, investors will be able to plan future trading strategies, backtesting and forecasting models one step ahead, which is especially important for institutions to maximize their returns in the cryptocurrency market.
Bybit’s move will reshape the industry landscape, and the platform’s advocacy for transparency has already made waves in the industry. Currently, the industry-leading cryptocurrency analysis platform CoinGlass has integrated the latest liquidation data provided by Bybit into its interface, allowing a large number of users to accurately analyze various market events in a visual form.
Further injecting a shot of confidence into institutional investors
Institutional investors are accelerating their adoption of cryptocurrencies. Bybit’s commitment to radical transparency means the market is maturing and ready for sophisticated funds. Bybit’s commitment to providing a reliable data foundation gives hedge funds, asset managers and trading firms who are looking for partners greater confidence.
About Bybit
As the worlds second largest cryptocurrency exchange by trading volume, Bybit serves more than 60 million global users. Since its establishment in 2018, Bybit has been committed to creating a simpler, open, and equal ecosystem, redefining the openness of the decentralized world. We are deeply involved in the Web3 field, establishing strategic alliances with top blockchain protocols, providing solid infrastructure, and promoting on-chain innovation. With secure and reliable asset custody, diversified trading markets, intuitive user experience, and cutting-edge blockchain tools, Bybit has successfully built a bridge between traditional finance and decentralized finance, helping developers, creators, and enthusiasts to fully tap the unlimited potential of Web3.
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