Which Country Made The Most Profit From Crypto Trading In 2023?

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A Chainanalysis report reveals that crypto investors made an estimated profit of $ 37 billion in 2023.

In 2023, the cryptocurrency markets bounced back from the turbulence of 2022, showing signs of improvement in both asset prices and overall market sentiment.

According to Chainalysis, investors in the crypto space collectively saw gains amounting to $37.6 billion over the course of the year.

Chainalysis notes that although crypto asset prices showed similar growth rates in 2023 compared to 2021, the total gains for the year were lower. This discrepancy suggests that investors in 2023 may have been less inclined to convert their crypto assets into cash.

This hesitancy could stem from the anticipation of further price increases, as asset prices in 2023 failed to surpass previous all-time highs, unlike the situation observed in 2021.

Although the total gains in 2023 where considerably smaller than the $159.7 billion gains seen during the bullish market of 2021, this figure signifies a noteworthy rebound from the losses estimated at $127.1 billion in 2022

Which Country Made The Most Profit?

The United States significantly outpaced other countries in cryptocurrency gains, accumulating an estimated $9.36 billion. Following closely behind is the United Kingdom with approximately $1.39 billion in crypto gains.

Notably, several upper and lower-middle-income countries, particularly in Asia such as Vietnam, China, Indonesia, and India, achieved substantial gains in cryptocurrency investment. These countries each accrued over $1 billion in estimated gains, placing them among the top six globally.

This aligns with Chainalysis’s earlier report that countries in these income brackets, particularly lower-middle-income nations, witnessed strong crypto adoption despite the challenges posed by the recent bear market, their crypto adoption remained notably resilient.