Data Revealed: Users Made the Most Profit in These 5 Altcoins Over the Last Year – They Didn’t Sell Despite Losses in 5 Other Altcoins

With the U.S. tax season in full swing, crypto investors have seen a dramatic increase in realized gains in 2024, according to the annual report from crypto tax software platform CoinLedger.

The report reveals that the average crypto investor has made $5,482 this year, a staggering 518% increase from the average of $887.60 in 2023. This increase comes as investors recover from a severe bear market in 2022 that led to average losses of $7,102.

“Cryptocurrencies are in a bull market,” said David Kemmerer, CEO of CoinLedger. “It is clear that the results of the 2024 presidential election have driven enthusiasm for digital assets to new heights.”

According to the report, 80% of CoinLedger users are located in the United States, while Australia, Canada, and other countries account for the remaining 20%.

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SuperVerse (SUPER) led the way among the coins with the largest unrealized gains, followed by Hyperliquid (HYPE). Bitcoin (BTC), Shiba Inu (SHIB), and Render (RNDR) rounded out the top five, indicating strong interest in both established assets and new crypto projects.

On the downside, Ethereum (ETH) led the way in unrealized losses for 2024. CoinLedger attributed this to increased competition from the Solana blockchain. Other cryptocurrencies with notable unrealized losses include Cardano (ADA), Polygon (POL), Cosmos (ATOM), and Cronos (CRO).

Bitcoin maintained its position as the longest-held cryptocurrency among CoinLedger users for the second year in a row, underscoring the loyalty of BTC holders. ETH, XRP, and ADA followed as the next longest-held assets.

*This is not investment advice.

Continue Reading: Data Revealed: Users Made the Most Profit in These 5 Altcoins Over the Last Year – They Didn’t Sell Despite Losses in 5 Other Altcoins