Bybit Launches Enhanced API for Real-Time Liquidation Data Access

Crypto exchange Bybit has announced a significant upgrade to its API, now offering public access to real-time liquidation data. This move aims to provide traders, analysts, and institutions with an unprecedented level of transparency in market activity, with updates occurring every 500 milliseconds.

New API Sets a High Standard for Transparency

The updated API, which was unveiled in a Feb. 21 press release, allows anyone to access detailed liquidation data without delay. Bybit’s CEO, Ben Zhou, described the upgrade as a "proactive approach in response to the crypto community’s demand for openness." Zhou emphasized that the real-time access to liquidation data would empower traders and analysts to better understand market dynamics and respond promptly to price changes.

“This ensures that every liquidation event is captured and disclosed without delay, setting a new standard for openness and reliability in the digital asset market,” the exchange stated in the release.

Fixing Data Gaps and Increasing Openness

Bybit’s decision to make liquidation data more accessible follows criticism earlier this year regarding the accuracy of Bitcoin liquidation estimates from platforms like CoinGlass. Zhou questioned the reliability of CoinGlass’ data, suggesting that it might have been underreported due to limitations imposed by Bybit's own API.

According to Bybit, the previous API restrictions created gaps in the reported liquidation data, which the new update addresses. Traders can now access a more complete and accurate picture of market activity, ensuring they have the data necessary to make informed decisions in real time.

CoinGlass Integrates Bybit Data

In response to Bybit’s new offering, CoinGlass, a leading market data platform, has already integrated Bybit’s liquidation data into its system. This partnership further enhances the transparency and accuracy of liquidation information available to users, ensuring a seamless flow of data for those tracking market movements.

Aiming for Higher Standards in the Digital Asset Market

Bybit’s move to provide detailed liquidation data comes at a time when the crypto market is grappling with extreme volatility. Earlier this month, traders experienced over $2.2 billion in liquidations, triggering significant price drops for major cryptocurrencies like Bitcoin and Ethereum. Some analysts noted that the liquidation wipeout was more severe than both the FTX collapse and the COVID market crash.

Zhou’s comments on X (formerly Twitter) raised concerns that platforms such as CoinGlass might have underreported these liquidation events due to API limitations. By making its data more accessible, Bybit aims to eliminate such discrepancies and offer the crypto community a higher level of transparency.

Conclusion

Bybit’s new API update marks a pivotal step toward greater transparency and reliability in the digital asset market. By making real-time liquidation data publicly available, the exchange hopes to set a new industry standard for openness, giving traders and analysts the tools they need to navigate the often unpredictable cryptocurrency market with confidence.