In a recent report by market intelligence firm Chainalysis, it has been revealed that global crypto gains in 2023 amounted to a staggering $37.6 billion. This profit surge reflects improved asset prices and market sentiment compared to 2022.
Although this figure falls short of the $159.7 billion gains witnessed during the 2021 bull market, it signifies a significant recovery from the estimated losses of $127.1 billion experienced in 2022.
Sharp Surge In Crypto Gains
The report suggests that despite similar growth rates in crypto asset prices in 2021 and 2023, the total gains for the latter year were lower. According to Chainalysis, this discrepancy could potentially be attributed to investors’ decreased inclination to convert their crypto assets into cash.
The analysis further suggests that investors in 2023 seem to have anticipated further price increases, as crypto asset prices did not exceed previous all-time highs (ATHs) during the year, unlike in 2021.
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