Bybit Makes Liquidation Data Completely Open for Public Access

Bybit, the 2nd-largest crypto exchange by trading volume, has announced a significant development in enhancing transparency by fully opening access to liquidation data through its improved API, setting a benchmark for other platforms.

This strategic move elevates Bybit’s standing in the market by providing real-time insights into market dynamics for traders, analysts, and institutional investors.

Openness to the Public

Bybit’s initiative to make liquidation data publicly accessible marks a pivotal advancement, offering comprehensive and real-time market insights to benefit traders and investors alike, thus keeping pace with the rapidly evolving cryptocurrency landscape.

This upgrade responds to the growing demand for transparency within the crypto community. Bybit has improved its API, leveraging a unique WebSocket topic called “All Liquidations,” which has transitioned from a prior limitation of one message per symbol every second to a more efficient streaming of real-time liquidation data every 5000 milliseconds. This enhancement ensures timely capture of every liquidation event, establishing a new standard for reliability and openness.

Clarity and Risk Management

According to Bybit’s CEO and co-founder Ben Zhou, the decision to make liquidation data completely public reflects a proactive approach to meeting the community’s demands for transparency. The upgrade offers traders, analysts, and investors immediate access to market data, thereby enhancing market clarity and enabling risk mitigation. Ben Zhou remarked, “By making all liquidation data fully public, we are taking a proactive approach in response to the crypto community’s demand for openness. This initiative ensures that traders and analysts can access complete and real-time market data, empowering them with the insights they need.”