Bybit is one of the only platform actually offer 100% data transparency, where the others are either restricting or hide some of their key data. People seem to be more interested in shitting on us for being honest than questioning the others for their shady data.
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Ben, respectfully, do you have anything to say about many sources saying that Bybit fakes a significant portion of their volume?
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This whole hypothesis of bitdao project is based on Bybit volume as we are contributing 2.5 bps of volume into Bitdao. Bitdao raised closed to 300M in private round with Founders Fund, Pentera and dragonfly being the lead. Their investment is of course based on intensive DD.
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You can find more details here bitdao.io/analytics/ basically you can pretty much know that our volume is 100% real becoz we are paying hard cash to proof it into a bitdao treasury. If there was any incentive to fake data, bybit would be more intended to make it lower, lol.
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Thanks for replying, Bitdao sounds interesting.
I think one of the main references accusing Bybit of faking volumes is and , cutting your volume in half on their volume monitor as a result:
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when you report volume do you count both buy and sell side (so a 1 BTC trade counts as 2 BTC of volume), or just one side?
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there's compelling evidence of Bybit historically faking volume but idk if it still does -- I'd believe it doesn't anymore!
on liquidations --
Binance no longer reports most of their data, so ya that part's wrong, but most other exchanges do, and bybit legit has way higher liquidations/volume that most exchanges--it's a function of the customer base and product.
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Because the average bybit customer uses a higher amount of leverage to trade than on other exchanges?