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Morning Edition · Wednesday, September 16, 2026Published at 1:44 AM EDT · New York
BIS Researchers Find Bitcoin On-Chain Transfer Estimates Vary Sixfold by Method
The same ledger produces wildly different activity figures depending on how analysts handle change outputs and self-transfers, and the study finds separate measurement gaps for Ethereum and stablecoins.
Researchers at the Bank for International Settlements (BIS) found that estimates of Bitcoin on-chain transfer volume can vary by a factor of six depending on the methodology used, and that Ethereum and stablecoin activity data face their ow…
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