Key Points
- A study by CoinLedger reveals that cryptocurrency portfolios have seen an average increase of $2,804 this year.
- Bitcoin and Ethereum are the two digital assets that users hold the most unrealized gains in, according to the same study.
CoinLedger, a provider of crypto tax and portfolio management software, conducted a study that found an average increase of $2,804 in cryptocurrency portfolios this year. This growth coincides with the industry’s race towards its previous 2021 peak.
The study involved an analysis of a database containing more than 500,000 investors. The aim was to identify the most popular tokens and solutions being used during a bull run, which was primarily driven by institutional interest and retail demand.
Most Popular Cryptocurrencies
The study indicates that the majority of unrealized gains are held in Bitcoin and Ethereum, the top two digital assets in the crypto market. According to TradingView, these two tokens have seen a growth of over 57% and 45% year-to-date, respectively.
Other cryptocurrencies such as Solana, Cardano, Polygon, and BNB also made it to the list of the top six tokens for unrealized gains in 2024. Notably, Bitcoin, Ethereum, and BNB are the longest-held cryptocurrencies by investors.
However, not all digital currencies experienced gains. The native token of the bankrupt Voyager exchange, VGX, topped the list of cryptocurrencies with the largest losses, having lost over 19% YTD. Other digital currencies that suffered significant losses in 2024 include Chainlink, Luna, Hedera, and Tezos.
Popular Exchanges and Wallets
Exchanges and wallets are essential tools in the crypto world, with nearly every user interacting with them at some point. CoinLedger’s report revealed that Binance was the most used trading venue, while MetaMask was the most preferred for crypto storage.
Other popular options for safeguarding digital assets included the Ledger wallet, Coinbase wallet, Trust wallet, and Phantom. In terms of trading venues, Coinbase, KuCoin, Crypto.com, and Kraken were ranked after Binance.
Despite the bankruptcy of exchanges such as FTX and Voyager, the year 2024 has seen a resurgence in cryptocurrencies like Bitcoin and Ethereum. This resurgence has led to significant gains for investors, indicating a thriving cryptocurrency market, according to David Kemmerer, CEO of CoinLedger.
