According to Ben Zhou, CEO of leading crypto exchange Bybit, the recent cryptocurrency market crash may have been more severe than current data suggests. Bybit CEO Ben Zhou Claims Crypto Liquidations Far Exceed $2 Billion Reported Zhou revealed that the actual total amount of liquidation in the crypto market has exceeded $2 billion, with the actual figure estimated to be between $8 billion and $10 billion. While data from popular analytics platform Coinglass shows Bybit’s 24-hour liquidation total at around $333 million, Zhou emphasized that this figure represents only a fraction of its broader market impact. “The figures recorded do not reflect the full picture. According to our internal estimates, the actual liquidation volume is at least four to five times higher,” he said. The stark contrast between reported and estimated liquidation figures highlights potential gaps in the monitoring mechanisms used by industry analytics platforms. While platforms like Coinglass provide snapshots of exchange-specific liquidations, they often miss data from over-the-counter (OTC) desks, decentralized finance (DeFi) protocols, and derivatives platforms that operate outside of mainstream visibility. Zhou’s revelations show that liquidations on unregulated platforms, private contracts and over-the-counter activities could lead to billions of dollars in hidden losses that go uncaptured by public data tools. The crypto market is affected by high volatility triggered by a combination of macroeconomic uncertainty, regulatory developments, and large liquidity steps. These forced sales occur when leveraged positions are automatically closed due to margin calls and typically increase downward price pressure. Bybit’s reported liquidation figure of $333 million is already among the highest for a single exchange in the current cycle, but Zhou’s predictions suggest a systemic event is unfolding in the global crypto ecosystem. *This is not investment advice. Continue Reading: Bybit CEO Ben Zhou Reveals: 'Crypto Liquidations Higher Than Announced in Recent Drop! Here Are the Details
