BCH On-Chain Activity Analysis Report
Key findings
As of December 6, 2025 (UTC), no single BCH transaction exceeding $53 million has been verified , but on-chain activity has indeed shown a significant increase. Active addresses in Q4 increased by 35% year-over-year, and on-chain transaction volume reached $50 billion (+30% YoY). Large transactions (>$100,000) surged 122% to $482 million in the last 24 hours. At the institutional level, mF International completed a $500 million private placement on December 1st for BCH reserve building, driving the price up 30-31% so far in 2025.
Large transfer verification
On-chain data verification
After multi-dimensional verification, no single BCH transfer meeting the $53 million threshold was found around December 6th .
- Transfer threshold : Based on a BCH price of $589 per BCH, $53 million would require approximately 90,000 BCH.
- Blockchain explorers : Blockchair and Blockchain.com did not display transaction records of this size.
- Whale Monitoring : The Whale Alert service did not report any related large transaction events.
- Recent Case : The most recent historical instance is on July 16, 2024, when Mt. Gox custodians transferred approximately 140,000 BCH (totaling approximately $53 million), but the funds were distributed across multiple wallets.
Historical references : On December 7, 2024, there was a transaction of 36,007 BCH (approximately $22 million) between unknown wallets, and in August 2024, a large transaction of 64,000 BCH (approximately $22 million) was observed, but neither reached the $53 million level.
Analysis of Increased On-Chain Activity
Key growth indicators
| index | Performance in 2025 | Year-on-year change | Time period |
|---|---|---|---|
| Active address | Q4 growth | +35% | Year-to-year comparison |
| On-chain transaction volume | $50 billion | +30% | Total for the whole year |
| Large transaction volume | $482 million (957k BCH) | +122% | In the past 24 hours |
| Total active addresses | Annual growth | +15% | 2025 |
Technical infrastructure
The increased activity on the BCH network is closely related to the following technological advantages:
- Scaling capacity : 32MB block size supports high throughput while keeping transaction fees low.
- Velma hard fork : Completed on May 15, 2025, adding VM Limits and BigInt functionality to enhance smart contract and DeFi application capabilities.
- Relative advantages : Scalability surpasses BTC/ETH competitors, driving on-chain transaction volume growth of 50% to $15 billion.
Holder distribution
- Whale concentration : The top 100 addresses control approximately 20% of the circulating supply (approximately 19.96 million BCH).
- Total Circulation : Current supply is close to the theoretical upper limit.
- Address activity : Network adoption shows a steady upward trend as the number of active addresses increases.
Institutional Investment Dynamics
mF International Strategic Layout
Key Event : Nasdaq-listed mF International (NASDAQ: MFI) completed a $500 million private financing round on December 1, 2025, with the funds primarily intended for the acquisition of BCH reserves.
Market impact :
- Following the announcement (November 21), the price of BCH rose 10% to $528.
- Aligned with the reserve allocation trend of digital asset enterprises (similar to MicroStrategy's BTC strategy)
- Provide institutional-grade credit endorsement and liquidity support for BCH.
Exchange ecosystem
BCH is now fully listed on 10 major exchanges, including:
- Supported exchanges : Binance, OKX, Bybit, Coinbase, etc.
- Number of trading pairs : 39 (38 active spot/perpetual)
- Newly added : OKX added the BCH/USDC spot pair on October 9, 2024.
Market performance
Price trend (December 2025)
| date | highest price | Lowest price | closing price | Daily change |
|---|---|---|---|---|
| December 4 | $604.67 | - | - | +8% |
| December 6 | $596 | $558 | $558.90 | - |
| current | - | - | $588.86 | +3.26% |
Annual performance :
- 2025 to present: +30-31%
- Relative to BTC performance: Outperformed (BTC -11% year-over-year)
- Market capitalization ranking: #15, total market capitalization: $11.75 billion
- 24-hour trading volume: $341 million
Key milestone : On December 4, the price of BCH surged to approximately $600, briefly entering the top 10 cryptocurrencies by market capitalization.
Social sentiment analysis
Community Narrative
Technical analysts and community members are interested in the following topics:
- A multi-year breakout : Discussions suggest that BCH is on the verge of a potential breakout after a multi-year compression phase.
- Technical Charts : Emphasizing trading BCH based on chart patterns, rather than historical bias.
- Support Confirmation : If the key support level holds, a substantial price increase is expected.
Warning signals
Some view the increased activity in low-market-cap assets (such as BCH) as a leading indicator of a market top , suggesting a potential risk of a broad market correction.
Information gap
Key finding : No high-quality discussions or whale activity narratives about a $53 million transfer were found on social media platforms such as Twitter/X, further supporting the conclusion that the transfer event may not have occurred.
in conclusion
While a single BCH transaction exceeding $53 million cannot be verified , multiple data points confirm a significant increase in BCH on-chain activity: active addresses surged by 35% in Q4, large transaction volume doubled within 24 hours, and annual on-chain transaction volume surpassed $50 billion. mF International's $500 million institutional-grade allocation provides a strong catalyst for the market. Combined with the technological upgrades from the Velma hard fork and its continued low-fee advantage, BCH is projected to outperform BTC in 2025 (+30% vs -11%). Community sentiment leans towards a technically bullish outlook, but the increased activity in low-market-cap assets may indicate market risks. Continuous monitoring of on-chain data and institutional fund flows is recommended to assess the sustainability of this trend.