Americans Made The Most Gains From Crypto: Chainalysis -Breaking
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Chainalysis was the most popular crypto-related investment for AmericansThe world’s leading cryptos gained all-time highs last year. Chainalysis, a blockchain analysis company, said that crypto investors worldwide, particularly those from the United States, also saw an increase in their investments.
Their latest report shows that crypto-investors in the United States made more than $46.9 Billion last year in realized cryptocurrency gains, with multiple countries far behind.
According to the company, US realized cryptocurrency gains increased by 476% from $8.1 Billion in 2020 to $47 Billion a year later.
The United Kingdom ($8.1B), Germany $5.8B, Japan ($5.5B), and China ($5B are the closest top nations. However, their realized digital currency gains are almost 6- to 9 times smaller than those of American crypto investors.
Despite the fact, their cryptocurrency gains grew at similar rates to US’s. The UK saw an increase of 431%, and the Germans experienced 423% more gains over the course of the year.
The growth rate for crypto investors in China has been visibly slower at 194%. It went from $1.7billion in 2020, to $5.1billion in 2021. This is slower than other countries, according to Chianlysis.
China, once known for its mining power, was subject to a stringent cryptocurrency crackdown in 2017. The local government placed strict restrictions on the use of cryptocurrency by crypto traders, miners, developers and all those involved with the digital ecosystem.
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Chainalysis noticed an increased importance of Ethereum (ETH), in terms of realized cryptocurrency gains made by other coins.
They found that Ethereum had $76.3 billion more global total gains than Bitcoin. Meanwhile, Bitcoin’s gains were $74.7 billion or $1.6 billion lower.
Chainalys says, the ETH dominance tendency reflects the increased demand for the second biggest coin due to the impressive rally of DeFi ecosystem in 2021, which in a major part is built on Ethereum’s network and uses ETH coins as their primary currency.
The world’s largest economy, the United States, however, ranked 5th in terms of which percentage of the population was involved with digital currencies last year. Global crypto adoption index shows that around 27.5million or 8.31% US citizens used digital currency.
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