The main exchange of cryptocurrency bybit has said that all of its liquidation data is now accessible to the public via an upgrade to its application programming interface (API).
With the upgrade, the API provides updates of liquidation data every 500 milliseconds, twice as quickly as the previous version, which has only provided only one update per second by trading trading , said.
The change guarantees that each liquidation event is captured in real time, eliminating the dead angles which have previously obscured the true scope of the activity of the
“The true spirit of crypto is transparency. By making all the liquidation data entirely public, we empower traders and analysts with the ideas they need, “said Ben Zhou CEO and co-founder in a press release.
The liquidation data helps traders to identify market trends, support and resistance levels and potential volatility peaks. The data examination will provide merchants, analysts and institutional investors an overview of the market activity in real time.
Earlier this month, significant volatility resulted in more than $ 2.2 billion in liquidations reported in just 24 hours. At the time, Zhou said that “real total liquidation is much more than $ 2 billion, in my opinion, it should be at least 8 to 10 billion dollars”.
He revealed that on the liquidations alone reached $ 2.1 billion in the previous 24 hours. API limitations, he said, were to blame for the lack of appropriate data on these events.
