On average, cryptocurrency investors saw gains of 887 Dollars throughout 2023

Crypto News– In 2023, crypto investors experienced a significant turnaround compared to the previous year, according to data provided by CoinLedger, a crypto tax software provider. Their analysis of data from 500,000 users revealed that, on average, investors made nearly $900 in net gains from selling crypto. This marks a stark contrast from 2022, which witnessed billions of dollars wiped from investors amid the collapse of several crypto firms.

On average, cryptocurrency investors saw gains of 887 Dollars throughout 2023

The average realized gains for crypto investors in 2023 amounted to $887.60 as the industry started to recover. This positive shift is highlighted by the fact that in 2022, the median crypto investor faced losses averaging $7,102.

Realized gains and losses occur when investors sell or dispose of crypto at a price different from their initial acquisition. For tax purposes, such transactions typically involve transferring cryptocurrency to a wallet not owned by the investor, such as when selling on an exchange.

CoinLedger CEO David Kemmerer sees these results as a potential sign of resurgence in the cryptocurrency market, emphasizing the industry’s resilience despite recent challenges.

“After the collapse of FTX, the cryptocurrency ecosystem saw a freefall in asset prices. This latest rebound highlights the resilience of the industry.”

During 2022, the crypto market experienced significant turmoil, with the total market cap plummeting by over $1.5 billion due to various collapses within the crypto industry, including those of the Terra ecosystem, crypto exchange FTX, and crypto lenders Celsius and Voyager.