Bitcoin Cash Exodus: Coinbase Balances Plummet by 42% as Investors Embrace Long-Term HODLing

Coinbase's cold wallet balances for Bitcoin Cash (BCH) have seen a significant drop, decreasing by a remarkable 42% from approximately 1.53 million BCH to just 917,000 BCH. This substantial withdrawal indicates a strong trend among BCH holders to move their assets off the exchange and into self-custody.

This shift suggests a clear "HODLing" sentiment, where investors are securing their Bitcoin Cash in private wallets for long-term investment rather than for active trading. This reduces the immediate supply of BCH available for sale on Coinbase, potentially contributing to less selling pressure on the market.

The move towards self-custody highlights a growing conviction in BCH's future and an increased awareness of security, as investors prioritize control over their digital assets. This trend points to a maturing investor base for Bitcoin Cash, focusing on long-term holding rather than short-term speculation on centralized platforms.

Coinbase wallet: https://bitinfocharts.com/bitcoin%20cash/address/1PUwPCNqKiC6La8wtbJEAhnBvtc8gdw19h