The average crypto investor realized less than $1,000 of gains in 2023, according to a study by cryptocurrency tax software platform CoinLedger. Last year's average gains mark a significant turnaround following the turmoil of 2022, when the average investor realized over $7,000 in losses amid the collapse of several crypto firms and a severe bear market. CoinLedger CEO David Kemmerer highlighted the cryptocurrency market's growth and resilience after the collapse of FTX and the subsequent freefall in asset prices. The report, based on CoinLedger's user base of more than 500,000 crypto investors, revealed that Ether was the most disposed of cryptocurrency by transaction count in 2023, followed by Solana, Bitcoin, BNB, and Polygon. Despite Bitcoin being the most popular cryptocurrency, it was only the third most disposed of, indicating that Bitcoin holders are less likely to sell their coins compared to investors of other cryptocurrencies. Ethereum led in terms of the most imported blockchain transactions to the tax software platform, with Bitcoin, Binance Smart Chain, Polygon, and Avalanche C-Chain completing the top five. Coinbase was the most imported centralized exchange, with Crypto.com and KuCoin also ranking high. Despite legal and regulatory challenges, including a $4.3 billion settlement with U.S. authorities and a lawsuit by the SEC, Binance.US remained in the top for CoinLedger imports.

The average crypto investor made $887.60 in realized gains for 2023, according to a study by cryptocurrency tax software platform CoinLedger.Last year’s average gains mark a significant turnaround following the turmoil of 2022, when the average investor realized over $7,000 in losses amid the collapse of several crypto firms and a severe bear market.“It’s clear that the cryptocurrency market is growing once again.” CoinLedger CEO David Kemmerer said in a statement. “After the collapse of FTX, the cryptocurrency ecosystem saw a freefall in asset prices. This latest rebound highlights the resilience of the industry.”The report's statistics were generated via CoinLedger’s proprietary user base of more than 500,000 crypto investors. The majority (80%) of CoinLedger’s users are from the United States, with 6% in Australia, 5% in Canada and 9% distributed among other countries, Kemmerer told The Block.Ether was the most disposed of cryptocurrency by transaction count among CoinLedger’s users in 2023. Solana, Bitcoin, BNB and Polygon made up the remainder of the top five, respectively.“Despite Bitcoin being the most popular cryptocurrency in the world, it was only the third most disposed of cryptocurrency,” CoinLedger said. “The data supports the narrative that Bitcoin holders are less likely to dispose of their coins than investors of other cryptocurrencies.”Similarly, Ethereum ETH 
 +2.46%
 led in terms of the most imported blockchain transactions to the tax software platform — with Bitcoin, Binance Smart Chain, Polygon and Avalanche C-Chain rounding out the top five.Unsurprisingly, given the dominant U.S. residency of CoinLedger’s users, Coinbase was the most imported centralized exchange last year. Coinbase Pro was still in fourth place despite the phased transition of its advanced trading features to Coinbase.com. Crypto.com and Kucoin had the second and fifth most imported transactions, respectively.Although 2023 was a disastrous year for Binance on the legal and regulatory front — involving a $4.3 billion settlement with U.S. authorities, a lawsuit filed against it by the Securities and Exchange Commission alleging a violation of securities laws, significant related layoffs and a reduction in market share — Binance.US remained in third place for CoinLedger imports. The SEC also filed a lawsuit against Coinbase last year.

Average Crypto Investor Gains Less Than $1,000 in 2023: CoinLedger Report