CoinLedger: Bitcoin leads unrealized gains across crypto portfolios

According to a report from CoinLedger, the typical value of cryptocurrency holdings grew by approximately $2,804 on average this year, reflecting the rapid advancement of the industry towards its earlier high point in 2021.

A crypto tax and portfolio management company examined data from more than half a million investors to identify trending tokens and strategies used during a bull market fueled by institutional investment and consumer demand.

Based on data from CoinLedger, the two most significant unrealized gains are found in Bitcoin (BTC) and Ethereum (ETH), which have increased by approximately 57% for Bitcoin and 45% for Ethereum since the beginning of the year, according to TradingView.

CoinLedger: Bitcoin leads unrealized gains across crypto portfolios
CoinLedger: Bitcoin leads unrealized gains across crypto portfolios

The cryptocurrencies Solana (SOL), Cardano (ADA), Polygon (MATIC), and BNB were among the top six with the highest potential profits in 2024. Solana experienced a surge due to increased investment in meme coins on its platform. Bitcoin, Ethereum, and Binance Coin are cryptocurrencies that investors have held onto for the longest time.

Chainlink (LINK), Luna (LUNC), Hedera (HBAR), and Tezos (XTZ).

CoinLedger: Bitcoin leads unrealized gains across crypto portfolios

Most popular exchanges, wallets

In the world of cryptocurrencies, there are essential instruments that almost all users encounter: exchanges and wallets. These tools come in various forms such as centralized versus decentralized exchanges, or custodial versus non-custodial wallets. Their primary function is to enable users to buy, sell, and manage their digital assets.

According to CoinLedger’s reports, which cover centralized trading platforms and non-custodial wallets, Binance emerged as the most frequently utilized exchange, while MetaMask was favored by users for storing their cryptocurrencies.

These are some commonly used wallets for securing digital assets: Ledger Wallet, Coinbase Wallet, Trust Wallet, and Phantom. On the other hand, Coinbase, KuCoin, Crypto.com, and Kraken are also well-known exchanges, following Binance in popularity.

David Kemmerer, the CEO of CoinLedger, expressed that this year has brought a fresh surge of enthusiasm for Bitcoin and digital currencies, as the sector bounced back from increased scrutiny caused by notable market downturns in 2022.

Despite the significant losses caused by the collapse of exchanges such as FTX and Voyager in 2024, investors have experienced notable profits thanks to the revival of cryptocurrencies like Bitcoin and Ethereum. In other words, the cryptocurrency market is experiencing a strong comeback.

David Kemmerer, CoinLedger CEO

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2024-04-03 23:34