As the adoption of cryptocurrency spreads worldwide, there has been an increase in crypto investors who are pushing the finance industry into total digitalisation. The United States has one of the highest amounts of crypto investors. So far, they have earned crypto gains nearly six times higher in total than the United Kingdom, the second-highest country to profit from cryptocurrency.
Reports from Chainalysis showed that U.S. cryptocurrency participants earned a record $46.9 billion in returns throughout 2021, which has left a massive gap from the rest of the world. Additionally, U.K investors came second to the U.S. with $8.1 billion, and Germany stood in third place with $5.8 billion.
Total realised cryptocurrency gains 2021: Chainalysis.
Top Ranking Countries
The U.S took the lead in adopting cryptocurrency by its residents in operational, financial and investing activities, which is why there are no surprises with the realised gains. Consequently, the total estimated profits for 2021 shot up by 476% from $8.1 billion the previous year.
Additionally, despite Turkey being globally ranked eleventh by GDP, the country stood in sixth place from its investors’ crypto revenue, outperforming its traditional economic ranking.
Nevertheless, China was one of the only giant nations that did not make much revenue in crypto like other countries. 2021 recorded an estimated $5.1 billion as China’s gain, up from $1.7 billion in 2020, equating to a year-over-year growth rate of 194%. Despite the aggressive opposition to cryptocurrency and extensive bans in China, the growth rate is still impressive.
While China’s result dropped, other countries, such as the U.K. and Germany, saw a 431% and a 423% increase last year.
Ether and Bitcoin Affect Ranking
There was a bit of competition between Ether (ETH) and Bitcoin (BTC) investors, which affected the ranking of these crypto active countries. As a result, ETH investors worldwide made a total revenue of $76.3 billion, beating out Bitcoin as the highest realised earnings crypto asset in 2021. Nevertheless, Bitcoin investors benefited in revenue, securing $74.7 billion throughout 2021.