Crypto Investors See Huge Gains in 2024

With the U.S. tax season in full swing, crypto investors have experienced a dramatic increase in realized gains in 2024, according to the annual report from crypto tax software platform CoinLedger.

Key Findings

• The average crypto investor has made $5,482 this year, a staggering 518% increase from the average of $887.60 in 2023.
• This growth comes as investors recover from a severe bear market in 2022 that led to average losses of $7,102.

David Kemmerer, CEO of CoinLedger, stated, “Cryptocurrencies are in a bull market. It is clear that the results of the 2024 presidential election have driven enthusiasm for digital assets to new heights.”

User Demographics

According to the report, 80% of CoinLedger users are located in the United States, while Australia, Canada, and other countries account for the remaining 20%.

Top Performers

SuperVerse (SUPER) led the way among the coins with the largest unrealized gains, followed by Hyperliquid (HYPE). Bitcoin (BTC), Shiba Inu (SHIB), and Render (RNDR) rounded out the top five, indicating strong interest in both established assets and new crypto projects.

Notable Losses

On the downside, Ethereum (ETH) led in unrealized losses for 2024, attributed to increased competition from the Solana blockchain. Other cryptocurrencies with significant unrealized losses include Cardano (ADA), Polygon (POL), Cosmos (ATOM), and Cronos (CRO).

Long-Term Holders

Bitcoin maintained its position as the longest-held cryptocurrency among CoinLedger users for the second year in a row, showcasing the loyalty of BTC holders. ETH, XRP, and ADA followed as the next longest-held assets.

This is not investment advice.