Bybit, the second-largest cryptocurrency exchange in the world, today announced a groundbreaking initiative to fully disclose all clearing data on its platform through a comprehensive upgrade of its API. This bold move will significantly enhance market transparency, enabling institutional investors, analysts, and trading users to grasp real-time and in-depth market dynamics, thereby achieving a substantial advantage in the rapidly evolving cryptocurrency space.
To align with the cryptocurrency community’s current demand for high transparency, Bybit has upgraded its API functionality through the latest WebSocket topic—“All Liquidations.” Unlike previous limitations that restricted each transaction to only one message per second, the newly upgraded data stream can now provide real-time clearing data every 500 milliseconds, ensuring that each clearing event is recorded and disclosed in real time. This will contribute to enhancing the openness of the virtual asset market while strengthening trading reliability with new standards.
Ben Zhou, Co-Founder and CEO of Bybit, stated, “The true essence of cryptocurrency lies in transparency. By fully disclosing all clearing data, we are actively responding to the cryptocurrency community’s demand for a high level of market openness, ensuring that trading users and analysts have access to complete and timely market data to make informed decisions at all times.”
Revealing Market Reality
Ben recently emphasized the importance of providing accurate clearing data to the market, pointing out that the limitations of APIs have historically prevented the industry’s data from fully reflecting the true scale of market activities. The current API updates from Bybit address this issue, ensuring that all clearing events are comprehensively and timely disclosed, providing trading users with a more complete and transparent market overview.
The following initiatives will bring significant benefits to the cryptocurrency investment community:
– **Market Transparency:** A comprehensive understanding of clearing events allows users to grasp the true depth of the market, enabling more precise analysis of market trends and the behaviors of other investors, thus greatly enhancing confidence.
– **Risk Management:** Real-time data helps investors accurately identify support and resistance levels for assets and precisely predict volatility peaks, improving risk management frameworks.
– **Strategic Advantage:** With detailed and unfiltered market data, investors will be able to plan future trading strategies, backtest, and develop predictive models ahead of others, which is particularly important for institutions to maximize returns in the cryptocurrency market.
Bybit’s initiative is set to reshape the industry landscape, and its advocacy for transparency has already stirred waves in the sector. Currently, the leading cryptocurrency analytics platform CoinGlass has integrated the latest clearing data provided by Bybit into its interface, allowing a broad user base to accurately analyze various market events visually.
Injecting Confidence into Institutional Investors
Institutional investors are accelerating their adoption of cryptocurrencies. Bybit’s commitment to complete transparency signifies that the market is maturing and is ready for established capital. Bybit is dedicated to providing a reliable data foundation, significantly boosting the confidence of hedge funds, asset management firms, and trading companies seeking partners.
About Bybit
As the second-largest cryptocurrency exchange by trading volume globally, Bybit serves over 60 million users worldwide. Since its establishment in 2018, Bybit has been committed to creating a simpler, more open, and equitable ecosystem, redefining the openness of the decentralized world. We are deeply engaged in the Web3 space, forming strategic alliances with top blockchain protocols to provide robust infrastructure and drive on-chain innovation.
With secure and reliable asset custody, diverse trading markets, an intuitive user experience, and cutting-edge blockchain tools, Bybit has successfully built a bridge between traditional finance and decentralized finance, empowering developers, creators, and enthusiasts to fully explore the limitless potential of Web3.
Visit Bybit.com to explore the future of decentralized finance.
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