Countries with the most cryptocurrency gains
Chainalysis clarifies that the methodology used is not flawless, but that it is a good way to have an overall view of cryptocurrency earnings by country. We note first of all that the year 2021 was mostly positive for investors: on a global scale, they won $162.7 billion. This is a clear progression compared to the year 2020, when they had generated “only” 32.5 billion dollars.
If we look at the breakdown by country, we also see that investors from the United States have made the most gains:
Figure 1: distribution of gains made by country
They are joined in the top three by the United Kingdom, as well as Germany. France comes in eighth positionwith earnings estimated at over $4 billion.
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A certain heterogeneity
Chainalysis points out that if the top of the ranking includes major savings, others are however vying for an enviable place:
“Just like last year, we see a lot of countries whose collective cryptocurrency investment performance appears to outperform traditional measures of economic prosperity.»
Translation: countries like Turkey, Vietnam or the Czech Republic have comparatively small GDPs, but their gains in cryptocurrencies put them at the top of the rankings. We note, for example, that investors from Turkey made more gains in 2021 than the French.
A big change comes from China, ranked fourth. The country created an earthquake in 2021 by banning cryptocurrency mining on its territory. And we see the effects on investment, according to Chainalysis. Earnings of cryptocurrency investors have indeed increased “only” by 194% since 2020compared to 476% for the United States, 431% for the United Kingdom and 423% for Germany.
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Which cryptocurrencies have offered the most gains for investors?
Another change this year: gains in Ether (ETH) for the first time outperformed those in Bitcoin (BTC). Investors raised $76.3 billion from Ethereum, compared to $74.7 billion from neighboring Bitcoin. The reason is to be found on the side of decentralized finance, according to Chainalysis:
“We believe this reflects the growing demand for Ethereum, thanks to the breakthrough of DeFi in 2021with most DeFi protocols being built on the Ethereum blockchain.»
Figure 2: distribution of earnings by cryptocurrency
However, there are a few exceptions… Including Japan. The country shows a strong preference for BTCwhich raised almost $4 billion for its investors, compared to $790 million for ETH.
The report concludes by explaining that this data shows signs of continued solidification of the sector:
“The data not only shows that crypto-asset prices are growing, but also indicates that cryptocurrency remains a source of economic opportunity for users in emerging markets.»
? Also read – Bitcoin (BTC) investors have psychopathic traits, study finds
Source: Chainalysis
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About the Author : Marine Debelloir
Deputy editor on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.
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