What to know:
- Bybit is now serving up real-time liquidation data updates faster than a speeding bulletโevery 500 milliseconds! ๐โโ๏ธ๐จ
- This move is like a magician pulling a rabbit out of a hat, responding to traders and institutions yelling for transparency! ๐ฉ๐
So, hold onto your hats, folks! Major cryptocurrency exchange Bybit has decided to throw open the curtains and let everyone see the liquidation dataโlike a peep show for traders! ๐ญ
With this upgrade, the API is now delivering liquidation data updates every 500 millisecondsโtwice as fast as the previous version, which was about as slow as a tortoise in a marathon! ๐ข๐
This change means every liquidation event is now captured in real-time, waving goodbye to those pesky blind spots that used to hide the true scope of market activity. Bye-bye, invisibility cloak! ๐๐งโโ๏ธ
โThe real spirit of crypto is transparency,โ said CEO and co-founder Ben Zhou, probably while wearing a superhero cape. โBy making all liquidation data fully public, weโre empowering traders and analysts with the insights they need!โ ๐ฆธโโ๏ธโจ
Liquidation data is like a crystal ball for traders, helping them spot market trends, support and resistance levels, and potential volatility spikes. Itโs the secret sauce for traders, analysts, and institutional investors to get real-time insights into market activity! ๐ฎ๐
Earlier this month, the market went wild, leading to over $2.2 billion in liquidations reported in just 24 hours. Zhou, with a twinkle in his eye, said, โThe real total liquidation is a lot more than $2B; by my estimation, it should be at least $8-10B.โ Talk about a wild ride! ๐ข๐ธ
He revealed that on Bybit alone, liquidations hit $2.1 billion in the previous 24 hours. And guess what? API limitations were to blame for the lack of proper data on these events. Classic! ๐๐
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2025-02-21 18:20