Bybit Enhances API to Provide Real-Time Liquidation Data

Crypto exchange Bybit has made its liquidation data publicly available through an upgraded API, providing traders, analysts, and institutions with real-time access to detailed market activity. The update, announced on February 21, offers updates every 500 milliseconds, capturing every liquidation event without delay.

According to Bybit, this move ensures openness and reliability in the digital asset market. CEO Ben Zhou described the update as a “proactive approach in response to the crypto community’s demand for openness,” providing traders and analysts with “complete and real-time market data.”

Fixing Gaps in Reported Liquidation Data

Bybit’s API upgrade addresses gaps in reported liquidation data that were previously limited by API restrictions. CoinGlass, a popular platform for tracking market data, has already integrated Bybit’s liquidation data into its system.

This development comes after a significant crypto crash earlier this month, which resulted in over $2.2 billion in liquidations. The crash saw Bitcoin drop to $91,000, while Ethereum crashed 20% in a single day. Analysts noted that the wipeout was bigger than the COVID crash and the FTX collapse.

Bybit’s CEO, Ben Zhou, had previously questioned the accuracy of CoinGlass’ liquidation estimates, suggesting that API limits set by Bybit may have led to underreported numbers. He also hinted that other platforms might have similar restrictions.

By making its liquidation data publicly available, Bybit aims to set a new standard for openness and reliability in the digital asset market. This move is expected to benefit traders, analysts, and institutions, providing them with complete and real-time market data.

Tips for Crypto Traders:

  • Stay up-to-date with real-time market data to make informed trading decisions.
  • Use reliable platforms like Bybit and CoinGlass to access accurate market information.
  • Monitor API restrictions and limitations to ensure you have access to complete market data.

Stay informed about the latest developments in the crypto market by following Global Crypto News for the latest updates and insights.

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