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.