It is interesting though to see such research and the outcome. However, it is funny to see that with all these KYC, data are actually being sold.

Nevertheless, I am not surprised that such things tend to happen but what I do not understand is how they were able to come up with the countries and either attach wallet addresses to such owners and knowing if they actually did sell or not on exchanges unless the data was actually gotten directly from exchanges.

I still feel there is a lot of bias in this, knowing anyway that developing countries are more prone to selling faster than developed countries. I wish I could see the link to the whole analysis and how it was actually carried out or else it is just baseless assumption.