A CoinLedger study found that the value of cryptocurrency portfolios increased by an average of $2,804 this year as the industry headed toward its previous peak in 2021.
The crypto tax and portfolio management software provider analyzed a database of over 500,000 investors to identify popular tokens and solutions being used amid a bull market supported by institutional interest and retail demand.
According to CoinLedger, users hold most of the unrealized profits primarily in the two main cryptocurrency digital assets: Bitcoin (BTC) and Ethereum (ETH). According to TradingView, the two tokens have grown by over 57% and 45%, respectively, year-to-date (YTD).
BTC YTD chart | Source: TradingView
ETH YTD chart | Source: TradingView
Cryptocurrencies such as Solana (SOL), Cardano (ADA), Polygon (MATIC), and BNB were also among the six tokens with the highest unrealized profits in 2024. SOL recently experienced a renaissance thanks to the liquidity flowing into meme coins in the Solana ecosystem. BTC, ETH and BNB are also the cryptocurrencies that investors hold the longest.
The native token of the bankrupt Voyager exchange (VGX) led the cryptocurrency with the biggest losses. VGX has lost over 19% year-to-date. CoinLedger analysts added that other digital currencies with significant losses in 2024 include Chainlink (LINK), Luna (LUNC), Hedera (HBAR), and Tezos (XTZ).
VGX YTD chart | Source: TradingView
The most popular exchanges, wallets
In the crypto space, exchanges and wallets are standard tools that almost every user interacts with at some point. Whether centralized or decentralized exchanges, custodial or non-custodial wallets, these solutions enable participants to trade digital assets.
CoinLedger's reports focused on centralized exchanges and non-custodial wallets, showing that Binance was the most used trading venue and users most preferred MetaMask for crypto storage.
Ledger Wallet, Coinbase Wallet, Trust Wallet and Phantom were popular options for protecting digital assets, while Coinbase, KuCoin, Crypto.com and Kraken ranked after Binance.
CoinLedger CEO David Kemmerer said the year saw renewed interest in Bitcoin and cryptocurrencies after the industry weathered heightened skepticism following major crashes in 2022.
Although the bankruptcies of exchanges like FTX and Voyager were major setbacks, investors saw significant gains in 2024 due to the resurgence of cryptocurrencies like Bitcoin and Ethereum. The cryptocurrency market is thriving again.
David Kemmerer, CEO of CoinLedger
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