Overall, across all cryptocurrencies Chainalysis tracks, investors around the world showed total gains of $162.7 billion in 2021, compared to just $32.5 billion in 2020, USA tops the gainers list, while South Africa, the only African nation to make the top 50 list, settled at 38th position.
South Africa was the only African country to feature in the top 50, accounting for $827.6 million in realized gains. This represents 0.51% of the total realized gains. Nigeria did not feature.
A big majority of the gains, 93%, was made in bitcoin and ether, according to the report. It noted that there were more gains in ether than bitcoin, at $76.3 billion to $74.7 billion.
According to Chainalysis, the report is only a rough estimate of how much crypto investors made during the year because it’s based on on-chain analysis of moving funds, as opposed to knowing each individual’s trading performance.
Chainalysis said it tracks the difference between funds when they are deposited on exchanges and when they are withdrawn.
The United States leads by a wide margin at an estimated $47.0 billion in realized cryptocurrency gains, followed by the UK, Germany, Japan, and China. However, like last year, we see many countries whose collective cryptocurrency investment performance seems to be outperforming their rankings in traditional measures of economic prosperity.
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