Centralized crypto exchanges underreport liquidations: Hyperliquid CEO
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Hyperliquid CEO Jeff Yan and data platform CoinGlass warned that Binance’s liquidation reporting method may undercount actual liquidations.
Hyperliquid co-founder and CEO Jeff Yan claimed that the way centralized crypto exchanges, and Binance specifically, report data is likely to underrepresent liquidations.
In a Monday X post, Yan pointed to a documentation page on the world’s top crypto exchange, Binance, explaining that the platform will only include the latest liquidation happening in each second interval in the order snapshot stream.
“Because liquidations happen in bursts, this could easily be 100x under-reporting under some conditions,“ Yan wrote.
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