Crypto Drama: Bybit’s Liquidation Shenanigans Unveiled! 💰😂

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What to know:

  • Bybit is now serving up real-time liquidation data updates faster than a speeding bullet—every 500 milliseconds! 🏃‍♂️💨
  • This move is like a magician pulling a rabbit out of a hat, responding to traders and institutions yelling for transparency! 🎩🐇

So, hold onto your hats, folks! Major cryptocurrency exchange Bybit has decided to throw open the curtains and let everyone see the liquidation data—like a peep show for traders! 🎭

With this upgrade, the API is now delivering liquidation data updates every 500 milliseconds—twice as fast as the previous version, which was about as slow as a tortoise in a marathon! 🐢🏁

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! 👋🧙‍♂️

“The real spirit of crypto is transparency,” said CEO and co-founder Ben Zhou, probably while wearing a superhero cape. “By making all liquidation data fully public, we’re empowering traders and analysts with the insights they need!” 🦸‍♂️✨

Liquidation data is like a crystal ball for traders, helping them spot market trends, support and resistance levels, and potential volatility spikes. It’s the secret sauce for traders, analysts, and institutional investors to get real-time insights into market activity! 🔮📈

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, “The real total liquidation is a lot more than $2B; by my estimation, it should be at least $8-10B.” Talk about a wild ride! 🎢💸

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! 🙄📉

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2025-02-21 18:20