Crypto Investors Earned an Average Profit of $887 in 2023: CoinLedger
Crypto investors made an average of nearly $900 in profits selling crypto in 2023, the “highest level” since 2022, which saw investors wipe out billions in the collapse of several crypto companies, according to data from crypto tax software provider CoinLedger.
CoinLedger analyzed 500,000 user reports and found that the average crypto investor in 2018 He took home $887.60 in 2023 when the industry began to recover.
“This is a significant improvement over 2022 – where the median crypto investor realized a loss of $7,102.”
Realized gains and losses occur when an investor sells or sells at a price different from what they originally acquired. For tax purposes in the United States, a withdrawal event typically involves transferring cryptocurrency to a wallet not owned by the investor – such as when selling on an exchange.
CoinLedger CEO David Kemmerer said the results indicate a possible resurgence in the cryptocurrency market.
“After the collapse of FTX, the crypto ecosystem has seen a sharp drop in asset prices. This latest update highlights the resilience of the industry.
Over 2022, the total value of the crypto market has declined by more than $1.5 billion due to various crypto industry failures, including Terra Ecosystem, crypto exchange FTX, and crypto lenders Celsius and Voyager.
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However, in the year 2023 saw the wave of the collapse of several US banks and the optimism surrounding the launch of bitcoin exchange-traded funds, which finally materialized in January 2024.
“The data supports the narrative that Bitcoin owners are less likely to dispose of their coins than other cryptocurrency investors,” CoinLedger said.
Kemmerer told Cointelegraph that 80% of its users are based in the US, although the data includes users from Australia, Canada and other countries.
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