An average crypto investor experienced a gain of $887.60 in 2023
An analysis conducted by CoinLedger, a leading crypto tax software platform, reveals that the average crypto investor saw a gain of $887.60 in 2023. This is a stark contrast to the losses experienced in 2022, where investors lost over $7,000 each due to the collapse of key crypto firms and a bear market.
According to CoinLedger CEO David Kemmerer, this rebound signifies the growth of the cryptocurrency market from 2022 to 2023 after the collapse of FTX led to a freefall in asset prices.
The data for this analysis comes from CoinLedger’s user base, which consists of over 500,000 investors primarily from the United States.
Ethereum (ETH) was the most frequently traded cryptocurrency
The study also revealed that Ethereum (ETH) was the most commonly traded cryptocurrency among CoinLedger users in 2023. It was followed by Solana, Bitcoin, BNB, and Polygon.
Interestingly, despite Bitcoin’s global popularity, it ranked third in disposal. This suggests that Bitcoin investors tend to hold onto their assets more than those investing in other cryptocurrencies.
In terms of blockchain transactions imported into CoinLedger’s tax software, Ethereum led the pack, surpassing Bitcoin, Binance Smart Chain, Polygon, and Avalanche C-Chain. Additionally, Coinbase emerged as the most popular centralized exchange among CoinLedger’s predominantly American user base.
Binance faced challenges but remained popular among users
The report also highlighted Binance’s challenging year, including a $4.3 billion settlement with U.S. authorities and a lawsuit from the Securities and Exchange Commission. However, Binance.US still ranked high for CoinLedger imports, indicating its popularity among users.
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