Crypto Investors See Average Profit of $888 in 2023

The average realised profit for digital asset holders in 2023 was $887.6, compared to a loss of $7102 in the previous 12 months, according to estimates by CoinLedger, reports Cointelegraph.

The cryptocurrency tax calculation platform analysed data from 500,000 clients, 80% of whom are residents of the United States, with the remainder from Australia, Canada, and other countries.

The results for 2022 may have been influenced not only by the deteriorating cryptocurrency market conditions but also by the collapse of several major organisations.

“After the FTX collapse, there was a free fall in asset prices. The recent rebound highlights the industry’s resilience,” commented CoinLedger CEO David Kemmerer.

The largest average realised losses were recorded by Ethereum holders ($13,356.67). Bitcoin investors lost $1218.35. Terra (LUNA) owners lost $1157.46, Solana (SOL) $917.02, and Cardano (ADA) $856.43.

According to the report, the situation in 2023 changed amid banking collapses in the US and optimism regarding spot ETFs based on digital gold.

“The data supports the assumption that Bitcoin holders are less likely to dispose of their coins than investors in other cryptocurrencies,” the document states.

This perspective was confirmed by on-chain analysis.

#Bitcoin whales are accumulating more $BTC! Around 73 new whales now hold 1,000 #BTC or more, marking a 3.66% increase in two weeks. pic.twitter.com/VFArJYTQZl

— Ali (@ali_charts) February 7, 2024

“Bitcoin whales are accumulating more coins! Around 73 new whales now hold 1,000 BTC or more, which is a 3.66% increase from two weeks ago,” reported analyst Ali.

Previously, the specialist predicted the duration of the digital gold rally following the halving.

In February, analysts at DecenTrader warned that the first cryptocurrency would “test investors’ resolve” with a sell-off after this event and would only update its ATH in the fourth quarter.