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Chainalysis report: United States clinch top spot in crypto gains in 2021

Chainalysis report

TL; DR Breakdown

  • United States clinch first position in crypto gains for 2021
  • Chainalysis report compared gains across different countries
  • Ethereum outperformed Bitcoin in gains

Traders in the United States have recouped six times the gains that traders in the United States have recouped over the last year, according to a new Chainalysis report. In the analysis firm’s document recently released, traders in the United States saw a massive gain of $46 billion. With this, the US was able to clinch the first position in terms of countries with the most crypto profits across 2021.

Chainalysis report compared income from different countries

According to the Chainalysis report, the second on the list, the United Kingdom did nothing to come close to the US while posting a gain of $8 billion. Germany clinched the third position, clinching the position with a total gain of $5.8 billion in the same time frame. This latest Chainalysis report is coming off the back of a general adoption in the crypto sector last year. Bitcoin led other digital assets into 2021 with massive gains in 2020.

The United States is also the first on the list of countries with a significant increase in adoption across 2021. In that time frame, the country saw its total gains surge by 476% compared to the figure it posted in 2020. The Chainalysis report also talked about countries making an upward trajectory when it comes to realized gains in the crypto sector. Turkey is presently ranked in 6th place despite being ranked 11th in GDP.

Ethereum outperformed Bitcoin in gains

China was surprisingly quiet in 2021 as it posted a relatively lower gain last year but still outperformed the year before. In 2021, China realized a $5.1 billion gain from crypto, which signified a 194% increase from the $1.7 billion in 2020. One of the major drawbacks of the profits in the Asian country has been attributed to the ban on crypto activities that was enforced late last year. The result is shallow compared to fellow high flyers in the United States and the United Kingdom.

Another impressive record was the gains recorded from traders of Ethereum across the market. Ethereum became the most profitable crypto, edging out Bitcoin with a massive $76.3 billion. However, the gains were slightly above Bitcoin, which recorded a gain of $74.7 billion last year. Another factor that the Chainalysis report considered was the adoption of digital assets by location. Compared to China, which has seen a downturn in the adoption of digital assets, countries like Ukraine and Czech saw rises in adoption.

Owotunse Adebayo

Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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