About a third of Bitcoin Cash coins have never moved over the entire life of the cryptocurrency. Such data in a new report leads the company Coin Metrics.
According to analysts, 6 million BCH has remained at the initial addresses since the separation of Bitcoin Cash from the main Bitcoin blockchain on August 1, 2017. In total, about 18.4 million BCH was bailed out. Thus, 32.6% of the coins were lost or are in long-term storage.
Coin Metrics also reports that 2.3 million bitcoins or 12.5% of the cryptocurrency’s turnover did not move for more than five years. These coins must be deducted in assessing the current liquidity of bitcoin.
“It is believed that the working volume of bitcoin is 18.3 million, but what if we say that it is 16 million? Does this value better reflect the volume of native cryptocurrency units available for the market? ” – they write Coin Metrics.
These values differ significantly from those called the company Unchained Capital, which, using the “go-up wave” tool, estimates the number of bitcoin coins withdrawn from active circulation at 4 million or 21.65% of the total issue.
According to the “waves of walking,” during the cryptocurrency market crash on March 12-13, the largest movement of bitcoins at the blockchain level over the entire existence of the cryptocurrency took place. Over a 24-hour period, 717,340 BTC was moved, or 3.9% of the total issue.