CoinLedger Study Unveils Over $2,000 Surge In Average Portfolio Value

2024 has proven to be a lucrative year for the average investor, according to recent data unveiled by CoinLedger. The platform’s data reveals a notable surge in the average crypto portfolio, with gains totaling $2,804 thus far.

This notable increase starkly contrasts with the modest average realized gains of less than $1,000 observed throughout 2023.

Unrealized Crypto Gains Reflect Market Resilience

Despite enduring losses exceeding $7,000 on average during 2022, according to Coinledger, investors witnessed a notable resurgence in 2024. The growth in unrealized gains underscores the resilience of the crypto market.

Against these notable developments, CoinLedger CEO David Kemmerer expressed optimism regarding the industry’s trajectory. He emphasized the “thriving” nature of the crypto market, attributing the resurgence to the renewed prominence of cryptocurrencies like Bitcoin and Ethereum.

CoinLedger’s insights are drawn from its extensive user base, comprising over 500,000 crypto investors globally. Most users hail from the United States, supplemented by contributions from Australia, Canada, and various other nations. CoinLedger’s data provides a snapshot of the market’s performance.

Key Trends And Observations

Examining the top performers within CoinLedger’s user base reveals Bitcoin and Ethereum as the standout assets, registering the most substantial gains in raw US dollar value, while Solana (SOL), Cardano (ADA), and Polygon (MATIC) round out the top five.

For context, Bitcoin and Ethereum have surged roughly over 50% since the year started. SOL, ADA, and MATIC, on the other end, have only seen roughly over 30% so far this year

Interestingly, despite regulatory challenges and legal scrutiny faced by Binance’s BNB coin, it remains a significant player, securing the sixth position in gains.

Furthermore, insights into investor behavior reveal Bitcoin’s enduring popularity as the most-held crypto among CoinLedger users. This trend aligns with the latest findings from CryptoQuant, indicating that Bitcoin exchange reserves have now plummeted to their lowest levels on record since early 2021.

Data from CryptoQuant underscores this shift, revealing that over the past month, more than 90,700 bitcoins have been withdrawn from major crypto exchanges.

This notable trend signals a reduction in the available supply of Bitcoin on these platforms, suggesting a strategic move by investors toward long-term asset-holding strategies.

This pattern of behavior from investors towards Bitcoin outflows from exchanges to cold storage solutions is likely influenced by various factors, including the steady ascent in the digital asset’s valuation and significant events such as the anticipation surrounding the forthcoming Bitcoin halving event and the approval of spot Bitcoin exchange-traded funds (ETFs) in the US.

Featured image from Unsplash, Chart from TradingView