EddieJayonCrypto
23 Jan 24
The CEO of CryptoQuant has revealed a delay between when Grayscale made Bitcoin outflows and when they made a disclosure. There is a discrepancy between on-chain data and off-chain disclosures made by Grayscale Bitcoin Trust (GBTC), with a significant gap between disclosed holdings and actual reserv...
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The CEO of CryptoQuant has revealed a delay between when Grayscale made Bitcoin outflows and when they made a disclosure. There is a discrepancy between on-chain data and off-chain disclosures made by Grayscale Bitcoin Trust (GBTC), with a significant gap between disclosed holdings and actual reserve. The disclosed holdings of GBTC dropped to about 566,973 BTC, rather than the 561,700 BTC on the on-chain reserve, indicating that GBTC has yet to disclose the full outflows.
Additionally, old tokens of the asset have been on the move recently, with a spike in the Average Dormancy indicator for Bitcoin. This spike is unlikely to be due to the GBTC outflows, and at the time of writing, Bitcoin is floating around $40,500, down over 4% in the past week.
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