RATE Group | Only 10% of Bitcoin Cash (BCH) is used for transactions
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Only 10% of Bitcoin Cash (BCH) is used for transactions

08 Jun Only 10% of Bitcoin Cash (BCH) is used for transactions

Posted at 12:10h in Bitcoin News by

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When Bitcoin Cash (BCH) – a hard fork of the world’s apex cryptocurrency Bitcoin (BTC) – first took off last August, it promised to solve BTC’s soaring transaction fees and make cryptocurrencies a viable option for everyday transfers once more. But it appears hardly anyone is using it for its so-intended purpose.

A new study by blockchain intelligence firm Chainanalysis suggests that most cryptocurrency enthusiasts still use BCH for investment purposes a lot more regularly than for transactions. Indeed, the amount of BCH held in wallets is 10 times higher than the amount of BCH used in transactions.

In comparison, the amount of Bitcoin held for investment is equal to the amount held for transactions and speculations.

For the purpose of the research, Chainalysis divided the total supply of Bitcoin and Bitcoin Cash into ‘monetary aggregates’ – or broad categories that measure the money supply in an economy – based on liquidity.

The…

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