Crypto realized gains remained consistent throughout 2023, with only two consecutive months of loss in August and September.
Crypto investors returned to gains in 2023, pocketing billions in profits during the year after a prolonged downturn, according to a new report from blockchain analytics firm Chainalysis.
The new estimates indicate realized gains — profits from selling assets for more than their purchase price — reached $37.6 billion in 2023, representing a significant recovery from realized losses of $127.1 billion in 2022. Relative to the latest bull market, however, the recovery is modest. In 2021, crypto investors realized gains of $159.7 billion, Chainalysis estimates.
Throughout 2023, crypto gains were consistent, with only two consecutive months of losses in August and September — when the United States cracked down on crypto companies. Gains soared again in November and December in anticipation of the approval of Bitcoin exchange-traded funds (ETF).