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Home»TRADING NEWS»Cryptocurrency investors will earn $37.6 billion in 2023, according to a Chainalytic report.
TRADING NEWS

Cryptocurrency investors will earn $37.6 billion in 2023, according to a Chainalytic report.

By Crypto FlexsMarch 15, 20242 Mins Read
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Cryptocurrency investors will earn .6 billion in 2023, according to a Chainalytic report.
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Cryptocurrency investors rebounded with significant returns in 2023 after a difficult period, according to blockchain analytics firm Chainalytic. Realized gains, which are profits earned from selling assets for more than their purchase price, totaled $37.6 billion in 2023, according to the report. This is a notable recovery from the $127.1 billion in realized losses reported in 2022, but falls short of the reported profits of $159.7 billion. During the 2021 bull market.

Steady profits even during market fluctuations

Despite market fluctuations, 2023 saw steady gains, including two consecutive months of losses in August and September. These losses coincided with a crackdown on cryptocurrency companies in the United States. However, gains rebounded significantly in November and December as investors anticipated the approval of a Bitcoin exchange-traded fund (ETF).

Global distribution of profits

The United States took the lead with realized profits of approximately $9.36 billion, followed by the United Kingdom with $1.39 billion. Other countries, including Vietnam, China, Indonesia, India, Russia and South Korea, also recorded realized gains in excess of $1 billion.

Factors contributing to the decline in gross profit compared to 2021

Chainalysis suggests that one of the reasons total returns in 2023 may be lower compared to 2021 despite similar growth rates in cryptocurrency asset prices may be investors’ reluctance to convert their cryptocurrency assets into cash. This hesitation may stem from expectations of further price increases.

Strong cryptocurrency adoption in middle-income countries

The report highlights strong cryptocurrency adoption in middle-income countries such as Vietnam, China, Indonesia, and India. Residents of these countries have made significant gains, demonstrating the resilience of cryptocurrency adoption even in bear markets.

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