itstamp contests recent reports by Glassnode and Arkham Intelligence, denying the accuracy of the portrayed Bitcoin outflows. The exchange clarifies that the reported 38% outflow is misleading, asserting an actual 1% decrease in holdings.
Unveiling Significant Bitcoin Outflows
On November 22, marked by the second-largest Bitcoin outflow of the year, Bitstamp witnessed a substantial depletion of approximately 16,500 Bitcoin, valued at $600 million. The transaction, depicted in increments of 3,300 Bitcoin, contributes to the exchange's efforts to provide clarity amidst data discrepancies.
Depleted Bitcoin Reservoir
In light of the observed outflow, Bitstamp's Bitcoin reservoir has declined, currently holding approximately 24,000 BTC. This reduction signifies a notable shift in the exchange's asset holdings, prompting a concerted effort to address and rectify information discrepancies.
Addressing concerns over the accuracy of reported Bitcoin outflow data, Bitstamp asserts a 1% depletion in holdings as opposed to the previously depicted 38%. The exchange's proactive response aims to deliver transparency and mitigate misconceptions regarding its asset reserves, solidifying its commitment to fostering trust and clarity within the crypto community.