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.