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Crypto liquidations have reached unprecedented levels, with a staggering total value of over $8 billion to $10 billion, according to estimates from Bybit’s CEO Ben Zhou.
In a recent tweet, Bybit’s co-founder and CEO shared his insights on the total value of the recent crypto liquidations. Zhou stated that the “real” total number is indeed higher than the reported $2.3 billion. He emphasized that due to limitations in application programming interfaces (API), CoinGlass did not register all the liquidations.
Zhou revealed that Bybit’s own 24-hour liquidation numbers reached a staggering $2.1 billion, which is a significant increase from the recorded $333 million on CoinGlass. He believes that this figure may be even higher due to the limitations in API data collection.
The CEO of Bybit shared his concerns about other exchanges potentially experiencing similar issues with their liquidation data. This would result in an even larger discrepancy between reported and actual figures.
Zhou estimated that the real liquidation value from the FTX collapse could be at least 4-6 times higher than what was initially reported.
Source: bitcoinist.com
