Crypto earnings to reach $37.6B by 2023 – Chain analysis
Crypto investors are set to return to profits in 2023, pocketing billions in profits during the year after a long slump, according to a new report from blockchain analytics firm Chinalysis.
The new estimates indicate that realized gains – the profit from selling assets for more than their purchase price – will reach $37.6 billion in 2023, representing a sharp recovery from a $127.1 billion loss in 2022. In light of the recent bull market, however, the recovery is modest. . In the year By 2021, crypto investors will earn $159.7 billion, Chainalysis estimates.
“Interestingly, despite the rise in crypto asset value in each of these two years, our total profit forecast for 2023 is lower than for 2021. One possible explanation for this is that Investors are less likely to convert crypto assets into cash in 2023, which is expected to increase in value.
In the year Throughout 2023, crypto gains were consistent, with only two consecutive months of losses in August and September – due to the United States' crackdown on crypto companies. Gains rebounded in November and December in anticipation of the approval of Bitcoin exchange-traded funds (ETFs).
The United States topped the list by a “wide margin” with $9.36 billion in guaranteed profits for the year. The United Kingdom is in second place with a profit of $1.39 billion. Vietnam, China, Indonesia, India, Russia and South Korea are among the countries with income above 1 billion dollars.
In particular, in Asia – Vietnam, China, Indonesia and India, for example – we see a number of high and lower middle income countries whose residents seem to have high profits. […]. We have already noticed […] Countries in these income categories, and especially lower-middle income countries, have shown strong cryptocurrency adoption that is resilient even in recent bear markets.
According to Chinalysis, the method measures investors' crypto profits on services that can be converted into fiat currency based on the movement of assets.
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