Crypto Investors Averaged Less Than $1,000 in Gains for 2023
The average gain realized by crypto investors in 2023 was $887.60, signifying a noteworthy recovery from the tumultuous events of 2022.
Because Bitcoin
February 7, 2024
According to a The Block report & study conducted by cryptocurrency tax software platform CoinLedger, the average gain realized by crypto investors in 2023 was $887.60, signifying a noteworthy recovery from the tumultuous events of 2022. During the previous year, the average investor faced losses exceeding $7,000 amid the collapse of various crypto firms and a severe bear market.
CoinLedger CEO David Kemmerer emphasized the resilience of the cryptocurrency market, stating, "It’s clear that the cryptocurrency market is growing once again." The study, based on data from CoinLedger's user base of over 500,000 crypto investors, revealed that 80% of users are from the United States, with 6% in Australia, 5% in Canada, and the remaining 9% distributed across other countries.
Ether ranked as the most disposed of cryptocurrency by transaction count among CoinLedger's users in 2023, followed by Solana, Bitcoin, BNB, and Polygon. Despite being the most popular cryptocurrency globally, Bitcoin was the third most disposed of, indicating that Bitcoin holders are less likely to part with their coins compared to investors in other cryptocurrencies.
Considering the user base's predominant U.S. residency, Coinbase emerged as the most imported centralized exchange in 2023, while Coinbase Pro retained the fourth position. Crypto.com and Kucoin secured the second and fifth spots for the most imported transactions, respectively.
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