[Mysterious $62 million Bitcoin Cash (BCH) transfer sparks speculation]
Bitcoin Cash (BCH), a cryptocurrency that was forked from Bitcoin (BTC) in 2017, recently experienced a huge transaction involving the transfer of 235,300 BCH from one mysterious wallet to another, which according to the price at the time, was worth approximately US$62.38 million.
This transfer was revealed by the encryption data monitoring agency Whale Alert, sparking widespread attention and speculation in the encryption community. The source and destination of the funds are unknown.
There are various reasons. It may be that a large investor transferred funds to a new wallet, conducted an over-the-counter (OTC) transaction, or mobilized funds before Bitcoin Cash’s upcoming halving event.
Regardless of the motivation, the incident undoubtedly attracted a lot of attention from the community.
BCH prices have fluctuated since hitting a high of $293.68 on February 14 and are currently trading at $263, down 1.5% in 24 hours, ranking the 20th largest cryptocurrency by market capitalization at $5.174 billion.
The next Bitcoin Cash halving is 38 days away, occurring every 210,000 blocks, and the block reward, currently 6.25 BCH, will drop to 3.125 BCH, a move designed to slow down the rate at which new BCH is produced. The next halving is expected to occur on April 5, 2024, 38 days and 22 hours away, with 5,605 blocks remaining.
The total supply of Bitcoin Cash is capped at 21 million BCH, with the guarantee that no additional currency will be created beyond this limit.
