BIS Paper Flags Major Gap in Bitcoin Onchain Transfer Estimates

The significance here is less about any single metric being wrong than about the credibility of the data stack the crypto and tokenized-asset market relies on for sizing, surveillance and institutional reporting. If headline onchain transfer figures can misstate real activity across Bitcoin, Ethereum and stablecoins alike, then comparisons between them, and any narrative built on them, rest on shakier ground than commonly assumed. The open question is whether the industry converges on more standardized measurement, or continues citing convenient numbers that regulators and researchers increasingly question.