BCH Drops 5.24% Amid Surging Trading Volume and New Listings, Holders Show Confidence

Bitcoin Cash (BCHUSDT) experienced a 5.24% price decrease over the past 24 hours, with the current price at 489.6 USDT (Binance data), opening at 516.7 USDT. The price decline can be attributed to recent large-scale sell-offs and liquidations, as indicated by on-chain activity showing a 56% reduction in movement of older tokens and increased short-term trading. Heightened volatility and a 50% increase in trading volume reflect intensified market activity following its addition to Binance's USD1 Points Program and new trading pair listings. Despite the sell-off, on-chain metrics suggest growing holder confidence as fewer long-held tokens are being sold, while technical analysts identify the current price zone as a pivot area, with traders monitoring for further direction. BCH continues to see strong liquidity and trading volumes, with circulating supply near 19.99 million and market capitalization estimated between $9.78 billion and $11.82 billion.