๐๐๐ Crypto investors pocketed $887 gains on average in 2023: CoinLedger
Crypto investors reaped significant gains in 2023, marking a notable departure from the losses incurred during the crypto winter of 2022. Data from CoinLedger, a crypto tax software provider, reveals that on average, investors made nearly $900 in net gains from selling crypto assets in 2023.
This turnaround stands in stark contrast to the previous year, where billions were wiped from investors' portfolios due to the collapse of several prominent crypto firms, including the Terra ecosystem, #FTX exchange, and crypto lenders Celsius and Voyager.
CoinLedger analyzed data from 500,000 users and found that the average investor realized gains of $887.60 in 2023 as the crypto market began its recovery. Realized gains and losses occur when investors dispose of or sell crypto assets for a different price than their initial acquisition.
According to CoinLedger CEO David Kemmerer, these results suggest a potential resurgence in the cryptocurrency market. Despite the challenges faced in 2022, optimism returned in 2023, buoyed by factors such as the launch of spot Bitcoin exchange-traded funds (#ETFs ) in January 2024.
The data also highlights that Bitcoin holders are less inclined to sell their coins compared to investors of other #cryptocurrencies. CoinLedger's user base primarily consists of individuals from the United States, comprising 80% of its users, with additional users from Australia, Canada, and other countries included in the analysis.
Source - cointelegraph.com