The exchange of cryptocurrencies Major Bybit said that all its liquidation data is now publicly available through an update to its application programming interface (API).
With the update, the API offers liquidation data updates every 500 milliseconds, twice faster than the previous version, which provided only one update per second by a pair of negotiation, he said.
The change ensures that each liquidation event is captured in real time, eliminating blind spots that previously obscured the true scope of market activity
“The true spirit of cryptography is transparency. By making all the liquidation data completely public, we are empowering merchants and analysts with the ideas they need, ”said CEO and co -founder Ben Zhou in a statement.
Liquidation data helps merchants identify market trends, support and resistance levels, and potential volatility peaks. Examining the data will provide merchants, analysts and institutional investors information about market activity.
Earlier this month, significant volatility led to more than $ 2.2 billion in liquidations that were reported in just 24 hours. At that time, Zhou said that “the real total liquidation is much more than $ 2B, according to my opinion, it should be at least $ 8-10b.”
He revealed that only in Bybit, the liquidations reached $ 2.1 billion in the previous 24 hours. The limitations of the API, he said, had to blame the lack of adequate data on these events.
