Average earnings of crypto investors in 2023 on CoinLedger fall below $1k.
According to CoinLedger, a prominent crypto tax software platform, the average crypto investor saw a gain of $887.60 in 2023. This marks a significant shift from the previous year, 2022, which was characterized by substantial losses of over $7,000 per investor due to the collapse of major crypto companies and a prevailing bear market.
CoinLedger CEO David Kemmerer commented on the resurgence of the cryptocurrency market, stating, “It is evident that the cryptocurrency market is once again growing. Following the collapse of FTX, the crypto industry experienced a sharp decline in asset prices. This recent rebound demonstrates the growth of the crypto industry from 2022 to 2023.”
These findings are based on an analysis of data from CoinLedger’s user base, which comprises over 500,000 investors, predominantly from the United States.
In addition, the study revealed that Ethereum (ETH) was the most commonly traded cryptocurrency among CoinLedger users in 2023, followed by Solana, Bitcoin, BNB, and Polygon.
Despite Bitcoin’s global popularity, it ranked third in terms of disposal, suggesting that Bitcoin investors may be more inclined to hold onto their assets compared to those investing in other cryptocurrencies.
Ethereum also led the pack in terms of the volume of blockchain transactions imported into CoinLedger’s tax software, surpassing Bitcoin, Binance Smart Chain, Polygon, and Avalanche C-Chain. Among CoinLedger’s predominantly American user base, Coinbase emerged as the most popular centralized exchange.
The report also touched on Binance’s challenging year, which included a $4.3 billion settlement with U.S. authorities and a lawsuit from the Securities and Exchange Commission. However, it noted that Binance.US still ranked high for CoinLedger imports.
For more information, check out our article on the best crypto profit calculator apps in 2024. Stay updated by following us on Google News.
