After a MetaMask wallet is cancelled, does the transaction history on the chain disappear?
Hello and welcome to MetaMask community 
If you reset your MetaMask account or restore your wallet (login again using your Secret Recovery Phrase) the transaction activity history (of your wallet) will default to none.
But you can always check all the transactions made from your account on a network’s blockchain explorer → from the blockchain explorer they cannot be deleted.
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Piggybacking off of @Urban.Moods great response, here are some articles if you want to dive deeper @kiki881006 -
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