Bybit has announced a ground-breaking initiative to make all liquidation data completely accessible to the public via an improved API.
This move positions Bybit as a leader in market transparency, providing traders, institutional investors, and analysts with real-time insights into market dynamics.
New Transparency Standard with Real-Time Liquidation Data in 500 milliseconds
In response to community demands for greater transparency, Bybit has introduced an enhanced WebSocket topic, “All Liquidations.” The new API provides real-time data every 500 milliseconds, in contrast to the prior system that only allowed changes at a rate of one message per symbol per second.
This ensures that all liquidation events are immediately visible, setting a new benchmark for openness in the crypto industry.
Ben Zhou: Transparency is Key to Crypto’s Future
Bybit’s co-founder and CEO, Ben Zhou, highlighted the importance of this initiative, emphasizing that transparency is the core principle of crypto.
He stated that Bybit’s decision to fully disclose liquidation data is a direct response to the crypto community’s call for openness. This initiative aims to provide traders and analysts with the complete and unfiltered market data they need to make informed decisions.
Previously, liquidation data released across the industry did not fully reflect the true magnitude of market activity due to API constraints. Bybit’s most recent version closes this gap by assuring that all liquidation events are recorded in real time.
This initiative enhances market trust and helps traders analyze trends, assess liquidity, and anticipate volatility spikes more effectively.
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Bybit’s Transparency Reshapes the Industry
Bybit’s latest move is already influencing the industry. CoinGlass, a well-known cryptocurrency analytics platform, has now integrated Bybit’s liquidation data, allowing users to visualize market events with greater accuracy.
The real-time insights offered by Bybit are expected to benefit institutional investors, who rely on precise data for risk management and trading strategies.
Bybit’s enhanced transparency could also be a catalyst for institutional adoption. Hedge funds, asset managers, and trading firms are increasingly interested in the crypto market, but concerns over data accuracy and reliability have been a hurdle.
Bybit’s new approach signals a maturing market, giving institutional players more confidence in crypto investments.
Regulatory Challenges and Legal Developments
While Bybit continues to innovate, it also faces regulatory scrutiny. In India, Bybit recently regained approval from the FIU after addressing compliance issues related to AML regulations. This approval is a crucial step in Bybit’s efforts to expand its presence in the Indian market.
However, Malaysia’s crypto regulator has questioned Bybit’s regulatory compliance and asked the platform to cease operations in the country. This highlights the ongoing regulatory challenges that global crypto exchanges face as different jurisdictions impose varying compliance requirements.
Bybit Employee Pleads Guilty to $5.7M Crypto Theft
In a separate development, a former Bybit payroll processing employee has pleaded guilty to stealing over $5.7 million, primarily in cryptocurrency.
The case underscores the security risks within crypto firms, even as exchanges like Bybit take steps to improve market transparency and compliance standards.
Bybit’s real-time liquidation data initiative represents a major step forward in crypto market transparency. As the exchange continues to refine its compliance measures and expand its influence, the industry will be watching closely.
Also Read: Bybit To Cease Digital Asset Services In France Amid Regulatory Challenges