Average Crypto Investors Reap Big Gains in 2024 Crypto Market Boom

By 2024, crypto portfolios have seen a surge of $2,804 in average gains, attributed to the resurgence of Bitcoin and Ethereum. CoinLedger data shows a notable contrast to the modest average gains of $1,000 observed in 2023. Despite significant losses in 2022, investors are embracing the crypto market's resilience, with unrealized gains reflecting a thriving industry.

Crypto Market Resurgence: Average Investors Reap Substantial Gains in 2024

Washington, DC - The crypto market has witnessed a remarkable surge in investor gains, with the average crypto portfolio experiencing significant growth in 2024. According to recent data unveiled by CoinLedger, a leading cryptocurrency tax software platform, the average crypto investor has realized gains totaling $2,804 so far this year.

This surge marks a stark contrast to the modest average realized gains of less than $1,000 observed throughout 2023. The substantial increase reflects the resurgence of the crypto market after a period of prolonged decline.

Unrealized Crypto Gains Reflect Market Resilience

Despite enduring significant losses exceeding $7,000 on average during 2022, investors have witnessed a notable recovery in 2024. The growth in unrealized gains underscores the resilience of the crypto market and the renewed confidence of investors.

"The crypto market is thriving," said David Kemmerer, CEO of CoinLedger. "The resurgence we're witnessing is driven by the renewed prominence of cryptocurrencies like Bitcoin and Ethereum, which have seen significant gains in recent months."

Key Trends and Observations

CoinLedger's insights are drawn from its extensive user base, comprising over 500,000 crypto investors globally. The platform's data provides a comprehensive snapshot of the market's performance.

Among the top performers within CoinLedger's user base, Bitcoin (BTC) and Ethereum (ETH) have emerged as the standout assets, registering the most substantial gains in raw US dollar value. Solana (SOL), Cardano (ADA), and Polygon (MATIC) round out the top five.

Bitcoin and Ethereum have surged roughly over 50% since the beginning of the year, while SOL, ADA, and MATIC have seen gains of approximately 30% so far.

Interestingly, Binance's BNB coin, despite facing regulatory challenges and legal scrutiny, remains a significant player, securing the sixth position in gains.

Bitcoin's Enduring Popularity

Insights into investor behavior reveal Bitcoin's enduring popularity as the most-held cryptocurrency among CoinLedger users. This trend aligns with the latest findings from CryptoQuant, which indicate that Bitcoin exchange reserves have plummeted to their lowest levels on record since early 2021.

Data from CryptoQuant underscores this shift, revealing that over the past month, more than 90,700 bitcoins have been withdrawn from major crypto exchanges. This notable trend signals a reduction in the available supply of Bitcoin on these platforms, suggesting a strategic move by investors toward long-term asset-holding strategies.

The pattern of behavior from investors towards Bitcoin outflows from exchanges to cold storage solutions is likely influenced by various factors. These include the steady ascent in the digital asset's valuation and significant events such as the anticipation surrounding the forthcoming Bitcoin halving event and the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States.

Market Outlook

The resurgence of the crypto market in 2024 has instilled optimism among investors. CoinLedger CEO David Kemmerer believes that the industry is poised for continued growth, driven by the adoption of cryptocurrencies and the development of innovative blockchain technologies.

"We expect to see further gains in the crypto market as more institutional investors and mainstream users embrace digital assets," said Kemmerer. "The future of crypto is bright, and we are excited to be a part of this transformative journey."