CryptoQuant, a prominent cryptocurrency data analytics firm, questions Tether’s status as the 11th largest Bitcoin holder using on-chain data.
According to Tom Wan, a research analyst, Tether’s reported holdings align with an address’s balance in Q1 and Q2.
Through a recent sequence of Twitter posts, CryptoQuant, a notable data analytics company in the cryptocurrency sector, has expressed doubts about Tether’s standing as the 11th most significant holder of Bitcoin, utilizing on-chain data. The tweets explore the limitations in on-chain data’s ability to fully track the activities of cryptocurrency whales.
1-3/ Can we verify @Tether_to being the 11th largest #Bitcoin holder with the on-chain data?
4-6/ What is the blind spot of on-chain data when monitoring #Whales’ behavior?
Let’s BUST this week’s FUDs with our on-chain data.
Thread
— CryptoQuant.com (@cryptoquant_com) August 10, 2023
The discussion begins by questioning the accuracy of Tether’s assertion regarding
