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Global Crypto Gains Surge to $37.6 Billion in 2023
Blockchain intelligence firm Chainalysis recently released a report revealing that global crypto gains reached $37.6 billion in 2023, marking a significant recovery from the losses experienced in the previous year.
U.S. Dominates Total Crypto Gains
The U.S. emerged as the leader in cryptocurrency gains worldwide, with a total of $9.36 billion in 2023, followed by the United Kingdom, Vietnam, and China.
Comparison with Previous Years
Despite the positive growth in 2023, the gains estimate falls short of the total seen in 2021, attributed to investors holding onto crypto assets in anticipation of further price increases.
Asia’s Growing Adoption of Cryptocurrencies
Chainalysis’s research also highlighted the significant gains achieved by lower-income and middle-income countries like India, China, Vietnam, and Indonesia, indicating a rising adoption of cryptocurrencies in these regions.
2024 Outlook
Following bitcoin’s recent surge to a new all-time high, Chainalysis predicts a positive outlook for 2024, especially with the SEC’s approval of spot bitcoin ETF applications potentially attracting more institutional investments in cryptocurrencies.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
