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Authors
Chaudhry, Faris
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Article History
Received: 19 August 2025
Accepted: 3 November 2025
First Online: 19 December 2025
Declarations
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: Faris Chaudhry is an employee of Balyasny Asset Management. The views expressed in this article are solely his own and do not represent the views or opinions of Balyasny Asset Management. This research was conducted independently by the author in his personal academic capacity. The author’s role at the firm is not related to cryptocurrency research or trading.
: This study is based on publicly available, anonymized, on-chain data and does not involve human or animal subjects. Therefore, institutional ethics approval was not required.
: Not applicable.
: Not applicable.
