Bybit CEO: "Futures Liquidation Not $2 Billion... Estimated at Least $8 Billion"

There is a claim that the liquidation scale of the cryptocurrency perpetual futures market is at least $8 billion to $10 billion.

On the 2nd (local time), Ben Zhou, CEO of Bybit, stated on X, "Today's liquidation amount in the cryptocurrency futures market will be much more than $2 billion," adding, "The liquidation amount that occurred on Bybit alone in the last 24 hours is about $2.1 billion." He continued, "The actual liquidation amount will be at least $8 to $10 billion," and noted, "The liquidation amount recorded on CoinGlass is different from the actual liquidation amount."

According to CoinGlass data, Bybit's liquidation amount in the last 24 hours is about $330 million. However, it is explained that the data that the API can transmit is limited, so the actual liquidation amount is not reflected.

He said, "Other exchanges also use similar methods to limit the transmission of liquidation data," and "In the future, Bybit will transmit all liquidation data in real-time."

Meanwhile, Cointelegraph previously announced on X that "more than $2 billion of futures positions were forcibly liquidated in the cryptocurrency perpetual futures market in the last 24 hours."