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Benbit CEO Ben Zhou suggested that the permanent event of liquidation on the cryptocurrency market could have been significantly higher than widely reported.
According to Coingglass data,, Over $ 2 billion in digital liquidation at 24 hours on Monday, February 3rd, marking the only biggest event of liquidation in the history of cryptocurrencies.
Several analysts estimated that the liquidation exceeded $ 2.2 billion, which outweighed the collision of the Kovida and collapse FTX, the two most significant liquidation events ever recorded.
Still, Zhou said the numbers could not be reportedly reported because of the API limit. According to the bypass co -founder, Crypto Exchange limits how much data is pushed to aggregates like Coinglass. Other platforms are likely to use a similar system with a limited limit, Zhou said through X.
Zhou estimated that the liquidation on the very essence was $ 2.1 billion in losses, which represents over 85% of the total reported data. “I’m afraid today’s real total liquidation is much more than $ 2 billion. In my estimation, it should be at least $ 8 billion up to $ 10 billion, “Zhou said.
After Zhou’s comments, members of the Crypto Community discussed the accuracy of the reported numbers. Some have speculated that the previous events of liquidation, such as Coid collision, were also unable to be reported enough.
Looking in advance, Zhou advocated that bybit would begin to share all the liquidation information with the public. “We believe in transparency,” he said, while digital assets are left to a huge influence.
