Bitfinex has launched a liquidation feed in a bid to provide more transparency regarding leveraged positions on its platform.
The news was announced in a Medium blog post which details how the liquidation feed is designed to provide precise and timely liquidation updates in an “easy-to-navigate” feed.
The feed will offer real-time liquidation updates for traders who want to better understand market movements and liquidity conditions.
The new feed will be accessible through Bitfinex’s user interface (UI) and will also be visible to traders through the WebSockets and REST v2 APIs.
The exchange states: “The liquidation feed is an important step in the growth of the Bitfinex product offering through displaying both market liquidations and acquisitions for improved transparency, further boosting the tools available to Bitfinex users.”
The liquidation feed is currently only available in beta mode, though the firm has noted that it will continue to evolve across the coming months.
The move will come as positive news for traders on Bitfinex, particularly in light of its upcoming 100x leverage feature.
Back in June, Coin Rivet reported on Bitfinex CTO Paolo Ardoino teasing on Twitter that the exchange would soon provide the option for users to trade with up to 100x leverage.
The maximum leverage available on the platform currently is set at 3.3x.
Trading with such high leverage comes with significant risk, and so the liquidation feed should help provide new users with helpful insights into market movements and liquidity conditions in relation to using high leverage.
Using 100x leverage means that the market only needs to move 1% – something which is common in cryptocurrency markets – against your position before it is liquidated.
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.