Big news in the world of cryptocurrency! Bybit, a place where people buy and sell crypto, made its information more open. They used to hide some data, but now everyone can see how much money people lost when their crypto investments went down (called liquidations).
- Bybit now shares details about how much crypto was lost quickly.
- This helps people understand the crypto market better.
- Previously, the amount of lost money was underestimated, much more was lost than initially thought.
- Bybit also decided not to allow trading of a cryptocurrency called Pi Network because of concerns about it being a scam.
| Topic | Information |
|---|---|
| Liquidations in February | Over $2 billion |
| Bybit's reported liquidations | $2.1 billion in one day (originally underestimated) |
| Total industry liquidations (Bybit estimate) | Around $10 billion |
