Nearly 33% of Bitcoin Cash’s Circulating Supply Has Never Moved

Michael LaVere
  • CoinMetrics data shows nearly one-third of bitcoin cash has never been moved from its original wallet post-hard fork.
  • 6 million BCH remains unmoved compared to 2.3 million BTC which has not been touched in over five years. 

Nearly one-third of the total supply of Bitcoin Cash (BCH) has never been moved since its August 2017 fork. 

According to data compiled by crypto analytics platform CoinMetrics, one-third of the total market supply of Bitcoin Cash has never been moved from the wallets it was airdropped to during the split from Bitcoin (BTC).

In a tweet published April 6, CoinMetrics showed that six million of BCH’s 18.4 million circulating supply has remained untouched since its inception. The platform questioned whether coin aggregator platforms should reflect that amount in their circulating supply totals.

CoinMetrics also published data showing 2.3 million BTC has remained unmoved over the last five years, accounting for roughly 12.5 percent of bitcoin’s 18.3 million circulating supply.

The analytics platform argued the untouched bitcoin was either lost or in the possession of “strategic holders,” with neither reflecting the true liquidity of the currency. 

The report came just days before bitcoin cash’s first scheduled halving, which was completed on April 8. 

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