A new report from Chainalysis has revealed the cryptocurrencies which brought investors the most gains in 2021.
What Happened: According to the report published on Wednesday, investors around the world realized total gains of $162.7 billion in 2021—a major increase from the $32.5 billion in 2020.
U.S.-based investors realized the most gains by a significant margin. In 2021, Americans saw $46.9 billion from cryptocurrency gains. The U.K. came in a distant second with $8 billion in realized crypto gains.
When breaking down how much American investors made from investments in individual coins, data shows that the widely popular meme-based cryptocurrency Dogecoin accounted for just a fraction of these gains.
Bitcoin and Ethereum were the undisputed leaders when it came to realized gains, with the latter edging out the former.
Investors saw $76.3 billion in gains from investments in ETH and $74.7 billion from BTC.
“We believe this reflects increased demand for Ethereum as the result of DeFi’s rise in 2021, as most DeFi protocols are built on the Ethereum blockchain and use Ethereum as their primary currency,” said Chainalysis.
Price Action: According to data from Benzinga Pro, BTC was trading at $40,600, down two percent over the last 24 hours. ETH was trading at $3,000, also down two percent over the same period.
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