Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Crypto gains recover to $38 billion last year after 2022’s $127 billion losses: Chainalysis

Crypto gains recover to $38 billion last year after 2022’s $127 billion losses: Chainalysis

The Block2024/03/14 13:04
By: Danny Park
BTC+0.82%LUNA+1.05%
Crypto investors experienced a significant recovery from 2022, which saw estimated losses of $127.1 billion, according to Chainalysis.Last year’s gains were lower than those of 2021, which may be because investors in 2023 were less likely to cash in on their crypto holdings, the report said.
Crypto gains recover to $38 billion last year after 2022’s $127 billion losses: Chainalysis image 0

Crypto investors made $37.6 billion in estimated total gains last year, blockchain intelligence firm Chainalysis said Thursday. The gains mark crypto’s recovery from the $127.1 billion in losses in 2022, a year plagued by numerous failures and bankruptcies that were seen in major names such as FTX and Terra-Luna.

Profits made in 2023, however, were much smaller than those achieved during the 2021 bull market, which amounted to around $159.7 billion, according to Chainalysis. 

“One possible explanation for this could be that investors in 2023 were less likely to convert crypto assets into cash, under the expectation that prices would rise even higher given that they didn't surpass previous all-time highs at any point in 2023, unlike in 2021,” Chainalysis said in its report.

Last year, bitcoin’s value rose over 150% in anticipation of spot bitcoin exchange-traded fund approvals in the U.S. The bitcoin price has continued to soar so far this year, recently hitting its all-time high of $73,604, according to The Block price data . The GMCI 30 Index , which reflects a selection of the top 30 cryptocurrencies, has also achieved a 63.5% growth year-to-date.

RELATED INDICES

See crypto indices

Middle income countries show resilience

By countries, the U.S. recorded the highest cryptocurrency gains last year by a substantial margin, with an estimated $9.36 billion. The UK followed with $1.39 billion. Chainalysis noted that some upper and lower middle income countries in Asia — namely Vietnam, China, Indonesia and India — recorded gains of above $1 billion, placing them within the list’s top six. 

“Countries in these income categories, and lower middle income countries in particular, showed strong cryptocurrency adoption that remained notably resilient even through the recent bear market,” Chainalysis said. “Our gains estimates suggest that many investors in those countries have benefited from their embrace of the asset class.”


Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Bitget Onchain trading system upgrade completed
Bitget Announcement2025/09/17 03:33
New spot margin trading pair — ZKC/USDT!
Bitget Announcement2025/09/16 06:28

Trending news

More
1
New spot margin trading pairs — SKY/USDT, ALGO/USDT, MERL/USDT!
2
Bitget Onchain trading system upgrade completed

Crypto prices

More
Bitcoin
Bitcoin
BTC
$117,002.39
+0.17%
Ethereum
Ethereum
ETH
$4,613.4
+1.72%
XRP
XRP
XRP
$3.1
+1.79%
Tether USDt
Tether USDt
USDT
$1
-0.03%
BNB
BNB
BNB
$990.06
+3.11%
Solana
Solana
SOL
$246.38
+4.03%
USDC
USDC
USDC
$1
-0.01%
Dogecoin
Dogecoin
DOGE
$0.2812
+4.56%
Cardano
Cardano
ADA
$0.9159
+4.00%
TRON
TRON
TRX
$0.3441
+0.24%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter