Crypto investors made $162.7bn in 2021

Crypto investors may have made as much as $162.7bn in gains last year, a new post by analytics firm Chainalysis has claimed.

This is a significant increase from 2020 when the firm reported $32.5bn. The increase in gains is associated with the bull run that began slowly in Q4 2020 and peaked in early 2021, boosting the value of bitcoin (BTC) and other cryptocurrencies to unprecedented levels.

US investors seemed to net the biggest share of the market, with some $47bn or 29% of the total going their way.

Then, there were investors from the UK, Japan, China and Germany. Some of these jurisdictions are in less favorable position today. China, for example, has completely suspended its private cryptocurrency industry.

Chainalysis reported that the most gains were made across BTC and ethereum with 93% of the total based on those currencies.

“We believe this reflects increased demand for Ethereum as the result of DeFi’s rise in 2021, as most DeFi protocols are built on the Ethereum blockchain and use Ethereum as their primary currency”, the blog post explained.

Chainalysis did not go into too much detail, arguing that the report was aimed at offering an aggregate view of the industry total, and not be too nitpicky about the final numbers.

However, the company wants to look at individual or wallet-level gains and see if they can get a clearer picture.

This is already underway. Chainalysis does caution that its numbers relate purely to the gains realized by investors and does not account for taxes or losses.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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