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One-Third of Bitcoin Cash's Supply Has Never Been Touched


cointelegraph.com 08 April 2020 11:20, UTC
Reading time: ~2 m

Data from CoinMetrics shows that roughly one-third of the circulating supply of Bitcoin Cash (BCH) has never been touched.

Coinmetrics also estimates that 2.3 million Bitcoins (BTC) have not moved in over five years — comprising 12.5% of the nearly 18.4 million BTC in circulation.

32.6% of circulating BCH supply has never moved

On April 6, Coinmetrics published data indicating that 6 million BCH has not moved since the blockchain forked off from Bitcoin on Aug.1, 2017.

With nearly 18.4 million BCH in circulation, 32.6% of existing coins are either lost or being held for the long-term.

2.3 million Bitcoins remain stagnant for over five years

Coinmetrics also estimates that 12.5% of the circulating supply of BTC has not moved in over five years.

The data varies significantly from the analysis produced by Unchained Capital’s ‘Hodl Waves’ —  which estimates that nearly 4 million BTC or 21.65% of circulating supply has remained stagnant for five years or longer.

March crash drives record daily on-chain activity

Hodl Waves indicates that the March 12 - 13 market meltdown saw the largest number of Bitcoins ever move on-chain,  with 717,340 BTC or 3.9% of circulating moving in 24 hours.

The hard fork that created Bitcoin Cash in August 2017 is now the second-largest on-chain event in the history of Bitcoin, with 661,100 BTC or 4.1% of circulating coins moving in early August.

The third-largest day of on-chain activity took place as prices consolidated before the BTC crash of early November 2015, with 626,000 BTC or 4.2% of supply moving in 24 hours.


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