Who Has The Most Bitcoin Cash? – Tech Tribune France

Bitcoin cash is a peer-to-peer digital currency that emerged from a bitcoin hard fork Photo credit: Luciano Marques / Shutterstock

Bitcoin (BTC) is currently the most valuable cryptocurrency. However, it is not without problems. It allows a relatively low number of transactions per second, which limits its usefulness for payments.

To address this concern, cash (BCH) was launched in August 2017. It is a peer-to-peer digital currency that emerged from a Bitcoin hard fork.

Bitcoin cash is one of the top 30 coins today (September 2), with a market capitalization of $2.21 billion, according to CoinMarketCap.

– Advertising –

– Advertising –

Even though the goal of cryptocurrencies is decentralization, a few large holders, known as whales, can control a considerable portion of the supply. As a result, whales have a significant effect on the price direction of a coin.

Who has the most bitcoin cash? Here we look at the circulating supply of BCH and the concentration of ownership.

What is bitcoin cash?

Bitcoin cash (BCH) is a decentralized peer-to-peer electronic payment system, independent of any government or financial organization.

Bitcoin cash, unlike Bitcoin, intends to evolve to meet the needs of a global payment system and provide a cheaper and faster payment processing method.

The bitcoin cash block size was expanded from 1MB to 8MB at the time of the fork. It currently (Sept 2) supports up to 32MB.

A larger block size allows bitcoin cash to process more transactions per second (TPS) while keeping costs very low, thus solving payment delays and excessive fees experienced by some users of the Bitcoin network.

Bitcoin cash transactions often cost less than a penny and settlement is almost instantaneous, regardless of the participants’ physical location. This makes crypto useful for remittances and international trade, as well as everyday transactions such as grocery shopping.

Due to its low transaction costs and fast transaction times, bitcoin cash is also suitable for microtransaction use cases, such as tipping content producers and rewarding app users.

Bitcoin cash also includes smart bitcoin cash (SmartBCH), a secondary chain for bitcoin cash that aims to explore new concepts and unlock new opportunities.

SmartBCH is compatible with Ethereum Virtual Machine (EVM) and Web3 API. It offers high throughput for decentralized applications (DApps) in a safe, fast and decentralized way.

What is your sentiment on BCH/USD?

Vote to see the sentiment of traders!

Bitcoin Cash Tokenomics

Like bitcoin, the total supply of bitcoin cash is capped at 21 million coins. Of these, 19.16 million were in circulation at the time of September 2 writing.

Also, like bitcoin, bitcoin cash experiences a halving over time. Block halving occurs every four years. The first BCH halving took place on April 8, 2020, marking the end of the period in which miners earned 12.5 BCH per block mined and the start of the current cycle at the price reserved miners receive 6.25 BCH per mined block.

The halving will later reduce the block reward to 3,125 BCH and is expected to take place in January 2024.

The halving policy was programmed into Bitcoin’s mining algorithm to fight inflation by preserving scarcity.

Who has the most bitcoin cash?

Top 5 Richest Bitcoin Cash (BCH) Addresses

CoinCarp Data provides necessary information about who owns the most bitcoin cash. As of September 2, there were 17.12 million BCH holders. It should be noted that there has been no change in total holdings and concentration of ownership over the past month.

At the time of writing (September 2), the largest BCH whale controls 4.26% of the BCH coin supply. The wallet contains the most bitcoins, 893,949 tokens, or $103,360,479. The second largest BCH wallet contained 288,019 tokens, or 1.37% of the supply.

Huobi Global, a leading cryptocurrency exchange, held 183,687 BCH coins, or 0.88% of BCH supply, making it the third largest BCH holder.

Further analysis showed that Kraken, another top cryptocurrency exchange, also held 0.29% of the combined supply of BCH in two different wallets, or 61,429 tokens.

Statistics showed that the top 10 bitcoin holders controlled 11.19% of BCH coins. The top 100 holders controlled 28.4% of the supply.

It is unclear who owns these wallets. Roger Ver, Calvin Ayre and Jihan Wu of Bitcoin Jesus may hold large amounts of BCH, but there is no evidence to support it.

String analysis the data revealed that BCH held for more than 52 weeks decreased by an average of 2,900 BCH over the past four weeks.

The longer an asset is held, the greater the likelihood that its holders will use it as a store of value or go dormant.

Over the same period, bitcoin cash, with unrealized profits of 100% or more, has climbed an average of 117.79k BCH per week over the past four weeks – the biggest increase in seven weeks.

The larger the unrealized gain, the greater the likelihood that a person will sell assets in an exchange and make a profit.

The Road to Bitcoin Cash

bitcoin cash [BCH] price table

Bitcoin Cash has been in a bear market for the past two months. As of September 2, BCH was trading at $116.51, down more than 72% year-to-date (YTD), with a market capitalization of $2.4 billion, making it the 29th-largest great cryptocurrency.

Recovery in the broader cryptocurrency market worsened in June and July, and many coins fell to 52-week lows. BCH hit a 52-week low of $96 on July 13 as investors pulled back amid inflation fears and the market’s will.

According Macroaxethe correlation coefficient between Bitcoin and Bitcoin Cash prices over the past three months is 0.97, indicating a reasonably positive correlation.

This coefficient varies from -1 to 1, where -1 is the strongest negative correlation, 0 the absence of correlation and 1 the strongest positive correlation.

A negative coefficient means that the price of the two cryptocurrencies is moving in an opposite trend, while a positive coefficient indicates that the price is moving in a similar direction.

It is fair to say that the price of BCH moves largely in parallel with the price of BTC.

Meanwhile, the development team hasn’t shared any significant news over the years. In fact, the last official tweet from the Bitcoin Cash team dates back to November 2020. The future of BTC remains uncertain.

The bottom line

While knowing who holds the most BCH can be crucial, you should always do your own due diligence before trading, by studying the latest news, technical and fundamental analysis, and analyst commentary.

Past performance does not reflect future results. And never trade with money you can’t afford to lose.

FAQs

Is Bitcoin cash a good investment?

Bitcoin cash (BCH) emerged as a bitcoin hard fork in August 2017. It is a peer-to-peer digital currency that functions as an electronic cash payment system. Since hitting an all-time high of $4,355.62 in December 2017, its price action has been bearish, with the coin currently trading over 98% below the high.

Whether a high-risk asset like BCH is right for your portfolio depends on your situation and risk tolerance. You should do your own research and analysis, taking into account your market expertise and attitude towards risk, as well as who holds the most BCH. Remember never to trade or invest money that you cannot afford to lose.

How much Bitcoin Cash is left?

According CoinMarketCap, bitcoin cash has a maximum supply of 21 million tokens and, as of September 2, a circulating supply of 19.16 million tokens. This suggests that there are still 1.84 million BCH tokens left to mine.

Is BCH better than BTC?

BTC and BCH are peer-to-peer digital currencies. As of September 2, BTC has the highest market cap of any coin.

However, cryptocurrency is an inherently risky asset class. You should do your own research and analysis, taking into account your market expertise and attitude towards risk, as well as who holds the most BCH. Remember never to trade or invest money that you cannot afford to lose.

Complementary conference:

We wish to thank the author of this write-up for this outstanding web content

Who Has The Most Bitcoin Cash? – Tech Tribune France


Explore our social media profiles and also other pages related to themhttps://metfabtech.com/related-pages/