Crypto Portfolio Values Soar: CoinLedger Report Reveals 2024 Surge

According to a study by CoinLedger, the average investor is projected to increase their crypto portfolio by $2,804 in 2024. This data, derived from the company's extensive user base, reveals insights into investors' crypto preferences and behaviors. The study also unveils the top cryptocurrencies for gains and losses, along with the most popular wallets and exchanges utilized for holding cryptocurrencies. Notably, Ethereum, Solana, and Bitcoin rank highly for gains, while Voyager token, Chainlink, and Terra exhibit the greatest losses.

Surge in Average Crypto Portfolio Value for 2024: CoinLedger Report Uncovers Key Insights

According to a comprehensive analysis conducted by CoinLedger, a leading crypto tax monitoring software platform, the average crypto portfolio for 2024 has experienced a significant increase of $2,804. This data was meticulously gathered from the platform's immense user base of over 500,000 investors.

Top Gainers and Losers in the Cryptocurrency Realm

CoinLedger's study also sheds light on the cryptocurrencies that have delivered investors the most substantial gains and losses. Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) emerged as the top performers, dominating the crypto market with their impressive returns. Cardano (ADA), Polygon (MATIC), and Binance Coin (BNB) followed closely behind these frontrunners.

Conversely, the crypto ranking for losses revealed Voyager token (VGX), Chainlink (LINK), and Terra (LUNA) as the unfortunate top performers. Hedera (HBAR) and Tezos (XTZ) also found themselves in this category. Voyager's first-place position in this ranking stems from the crypto-exchange's recent struggles.

Most Held Cryptocurrencies and Popular Wallets/Exchanges

Focusing on the topic of cryptocurrencies held for the long term, CoinLedger presents a list of the most hodled assets. Bitcoin, BNB, and Ethereum once again ascended to the top, mirroring their ranking among the highest gainers, albeit with slight variations in their order. Rounding out the top ten were ADA, LINK, Algorand (ALGO), MATIC, SOL, Fantom, and Polkadot (DOT).

When it comes to popular wallets, Metamask emerged as the clear leader overall, particularly in the DeFi sector. Ledger, meanwhile, secured the top spot among hardware wallets.

Exploring the choices made by investors regarding crypto-exchanges, Binance, Coinbase, and Kucoin took the top three positions. Crypto.com, Binance.US, Kraken, Gemini, Uphold, MEXC, and Bybit rounded out the top ten exchanges for long-term crypto storage.

Cryptocurrencies as Payment Methods: CoinLedger Survey

In a separate study conducted in early October 2023, CoinLedger delved into the adoption of cryptocurrencies as preferred payment options. The survey revealed that the e-commerce sector led the charge with 60 companies accepting cryptocurrencies. Food & Dining followed closely with 54 companies embracing crypto payments, while Luxury Retail came in third with 35 companies onboard. The Travel and Hospitality sector and Internet and Services took fourth and fifth place, respectively, indicating a growing acceptance of cryptocurrencies beyond the traditional financial realm.

Conclusion

CoinLedger's research provides invaluable insights into the evolving crypto investment landscape. The surge in the average crypto portfolio value for 2024 underscores the growing confidence and adoption of digital assets. The study also highlights the importance of diversification, as both gainers and losers exist in this dynamic market. Moreover, the data on popular wallets and exchanges reveals the preferences of investors, indicating a shift toward decentralized and secure storage solutions.

As the cryptocurrency industry continues to mature, CoinLedger's analysis serves as an essential guide for investors navigating the complex and ever-changing crypto landscape. With its proprietary data and comprehensive insights, CoinLedger empowers investors to make informed decisions and optimize their crypto portfolios for success in 2024 and beyond.