Odaily News Ben Zhou, CEO of Bybit, said in a post on the X platform, “I’m afraid that the actual total liquidation amount in the cryptocurrency market today is far more than $2 billion. According to my estimate, it should be at least between $8 billion and $10 billion. The liquidation amount of Bybit alone in 24 hours reached $2.1 billion.
Coinglass records Bybit's 24-hour liquidations at approximately $333 million, but this is not all liquidation data. We have API limits on pushing data per second.
From what I’ve seen, other exchanges have similar practices that limit the push of liquidation data. In the future, Bybit will start pushing all liquidation data like other data. We believe transparency is very important.”