Bitcoin

Coin

<ul class="news-points"> 
 <li>CryptoQuant used on-chain data to dispel doubts about Tether’s BTC position.</li> 
 <li>It says Tether might possess additional Bitcoin wallets beyond the one under scrutiny.</li> 
 <li>On-chain data can also potentially lead to the wrong categorization of whale entities.</li> 
</ul> 
CryptoQuant, a prominent on-chain data and analytics provider, has taken to Twitter to dispel the doubts surrounding Tether’s position as the eleventh-largest holder of Bitcoin. The company determined to counter the week’s spread of <a href="https://coinedition.com/tether-fanatics-label-wsjs-report-on-suspicious-activities-as-fud/" rel="noopener noreferrer nofollow">fear, uncertainty, and doubt (FUD)</a> with the power of its on-chain data. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 1-3/ Can we verify <a href="https://twitter.com/Tether_to?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Tether_to</a> being the 11th largest <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> holder with the on-chain data? 4-6/ What is the blind spot of on-chain data when monitoring <a href="https://twitter.com/hashtag/Whales?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Whales</a>' behavior? Let's BUST this week's FUDs with our on-chain data. Thread<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;">— CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1689515834497191937?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 10, 2023</a> 
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
CryptoQuant highlighted that Tether’s quarterly report unveiled a substantial stash of approximately $1.6 billion worth of Bitcoin. This figure propelled <a href="https://coinedition.com/tether-stablecoin-is-selling-off-over-potential-huobi-insolvency/" rel="noopener noreferrer nofollow">the stablecoin issuer</a> to a top position among the crypto asset’s largest holders. 
However, a scrutiny of the Tether Bitcoin holding wallet on Twitter raised some alleged discrepa… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/tethers-bitcoin-holdings-proven-by-on-chain-data-fud-debunked/">Tether’s Bitcoin Holdings Proven By On-Chain Data; FUD Debunked</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Tether’s Bitcoin Holdings Proven By On-Chain Data; FUD Debunked

Coin Edition

Other articles published on Aug 10, 2023

JUST IN: Binance Invested $5 Million In This Altcoin, Price Soars!

Binance Cuts Leverage on ADA and MATIC Perpetual Contracts!

XRP Lawsuit: Ripple Response To SEC Appeal Request In A Week

Cardano’s MuesliSwap To Refund “High-Slippage” Losses

BCH Price Analysis: With Sellers Back In The Ring, Will Bitcoin Cash Cross $300?

Binance has Greenlit Shiba Inu as Collateral Asset

Join our free newsletter for daily crypto updates!