Coinmetrics reported an interesting study that refutes the true circulation of BTC and BCH.
Currently, BTC circulation is generally accepted as 18.3 million, but in fact it looks a little different.
Coin Metrics’ new Free Float Supply considers that 2.3 million in BTC has not moved over the past 5 years and can be considered lost or in the hands of long-term investors / hodlers.
This means in terms of market and liquidity that this amount does not provide it.
Coinmetrics also looked at Bitcoin Cash and found interesting information.
The total circulation supply is 18.4 million, but in fact there are 6 million which has never moved since the fork and do not provide any liquidity.