CoinLedger: The average crypto investors’ return was $887 for the year

The company analyzed the tax records of 500 000 users from the United States, Australia, and Canada

07.02.2024 - 15:35

2 min

What’s new? Last year, the average realized gain of crypto investors was $887, US-based digital asset tax software provider CoinLedger has reported after analyzing the reports of 500 000 users. The company said this is a significant improvement over 2022 when the average investor loss was $7102.

Cointelegraph’s material

What else is known? Over 2022, crypto market capitalization fell by more than $1,5 billion amid bankruptcies of major industry players, including blockchain ecosystem Terra, exchange FTX, and lending platforms Celsius and Voyager.

In 2023, the industry rebounded amid the banking crisis and the pending approval of spot bitcoin exchange-traded funds (ETFs) in the US, which were eventually launched in January this year.

Crypto market capitalization grew by 108% in a year

At the same time, the average daily trading volume of cryptocurrencies fell by 32%

CoinLedger CEO David Kemmerer noted that after the FTX crash, asset prices in the crypto ecosystem went into free fall, but the rebound in 2023 proves the resilience of the industry.

Also citing the report, he added that “Bitcoin holders are less likely to dispose of their coins than investors of other cryptocurrencies.”

80% of CoinLedger’s users are in the US, and the platform is also used by residents of Australia and Canada

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