A new report by Chainalysis has revealed the cryptocurrencies that have brought investors the most gains in 2021.
What happened: According to the report released on Wednesday, investors around the world realized total gains of $162.7 billion in 2021 — a significant increase from $32.5 billion in 2020.
US-based investors made the most gains by a wide margin. In 2021, Americans saw $46.9 billion in cryptocurrency gains. The UK took second place with $8 billion in realized crypto profits.
Breaking down how much American investors have made from investments in individual coins, the data shows that the widely used meme-based cryptocurrency Dogecoins DOGE/USD accounted for only a fraction of these gains.
Diagram: Courtesy of Chainalysis
Bitcoin BTC/USD and ether ETH/USD were the undisputed leaders when it came to realized gains, with the latter crowding out the former.
Investors saw $76.3 billion in gains from investments in ETH and $74.7 billion in BTC.
“We believe this reflects the increased demand for Ethereum as a result of the rise of DeFi in 2021, as most DeFi protocols are built on top of the Ethereum blockchain and use Ethereum as the primary currency,” Chainalysis said.
See also: BEST PENNY CRYPTOS
Price promotion: According to data from Benzinga Pro, BTC was trading at $40,600, down 2% over the past 24 hours. ETH traded at $3,000, also down 2% over the same period.
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