Blockchain data analytics firm Chainalysis has found that worldwide total cryptocurrency gains in 2021 stood at $163 billion, an increase of 5x or 400% from the previous year.
Chainalysis on worldwide crypto profits
Blockchain analysis firm Chainalysis published a blog post last week titled “2021 Cryptocurrency Gains by Country: Ethereum Leads as Gains Skyrocket Around the World.”
The firm explained that its estimate is based on a combination of web traffic data and its transaction data, which includes “on-chain, macro-level flows of all crypto assets”.
Noting that “2011 was another strong year for cryptocurrency,” the firm wrote for all cryptocurrencies it tracks:
Investors worldwide saw a total profit of $162.7 billion in 2021, compared to just $32.5 billion in 2020.
The US leads by a huge margin of about $47 billion, followed by the United Kingdom, Germany, Japan, China, Turkey, Russia, France, South Korea, Canada and Spain.
Chainalysis also provided estimated cryptocurrency gains by country for the coin. The blockchain data analytics firm explained:
The most notable trend here involves Ethereum’s gains. Ethereum spurred bitcoin from $76.3 billion to $74.7 billion in total real gains worldwide.
“We believe this reflects the increased demand for Ethereum as a result of the rise of DeFi in 2021,” the firm continued, emphasizing that most decentralized finance (DeFi) protocols are built on the Ethereum blockchain. and use ETH as their primary currency.
Nevertheless, Chainalysis noted: “While most individual countries follow this pattern, there are some notable exceptions. Japan, for example, received a substantial portion of the gains from bitcoin at just under $4.0 billion, while the actual Ethereum There was only $790 million in profit.”
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