Bybit: Limitations of analytical services hide real losses of traders
Date: 2025-02-04 Author: Oliver Abernathy Categories: BUSINESS
Bybit CEO Ben Zhou pointed out that the transfer of data between cryptocurrency exchanges and analytical services is limited by the API bandwidth, which is why the real losses of crypto traders are underestimated.
According to Coinglass, total liquidations per day amounted to about $2 billion. However, according to Zhou, the true losses associated with the fall in quotes and forced liquidations of positions can reach $8-10 billion.
“As of February 3, liquidations in the digital asset market significantly exceeded $2 billion. According to my calculations, they amount to at least $8-10 billion. On Bybit alone, the amount of liquidated positions per day reached $2.1 billion,” Zhou emphasized.
According to him, crypto exchanges deliberately limit the access of analytical services to full data on liquidations. This allows them to control official statistics and reduce potential anxiety among investors.
An additional factor that put pressure on the crypto market was the increase in US customs duties on goods from Canada, Mexico and China. This decision by Donald Trump caused investors to flee volatile assets, intensifying the sell-off of digital currencies.
