A CoinLedger study found that the value of crypto portfolios increased by an average of $2,804 this year as the industry races towards its previous peak in 2021.
Cryptocurrency tax and portfolio management software provider analyzes its database of over 500,000 investors to identify popular tokens and solutions that are being leveraged during a bull market supported by institutional interest and retail demand. I planned.
According to CoinLedger, users primarily hold the most unrealized gains in the top two digital assets, Bitcoin (BTC) and Ethereum (ETH). According to TradingView, the two tokens have grown over 57% and 45% year-to-date (YTD).
Cryptocurrencies such as Solana (SOL), Cardano (ADA), Polygon (MATIC), and BNB also ranked among the top 6 tokens for unrealized gains in 2024. SOL has recently experienced a resurgence thanks to the influx of liquidity into meme coins on the Solana ecosystem. BTC, ETH, and BNB are also the cryptocurrencies held the longest by investors.
The native token of the bankrupt Voyager Exchange (VGX) remains at the top of the list for the biggest crypto losses. VGX has fallen over 19% since the beginning of the year. CoinLedger analysts added that other digital currencies that will experience significant losses in 2024 include Chainlink (LINK), Luna (LUNC), Hedera (HBAR), and Tezos (XTZ).
Most popular exchanges, wallets
In cryptocurrencies, exchanges and wallets are standard tools that almost every user interacts with at some point. Whether on a centralized or decentralized exchange, custodial or non-custodial wallet, these solutions allow participants to trade digital assets.
CoinLedger's report focused on centralized exchanges and non-custodial wallets, and revealed that Binance was the most used trading venue, while users primarily preferred MetaMask for crypto storage.
Ledger wallet, Coinbase wallet, Trust wallet, and Phantom are popular options for securing digital assets, while Coinbase, KuCoin, Crypto.com, and Kraken ranked after Binance.
CoinLedger CEO David Kemmerer said renewed interest in Bitcoin and cryptocurrencies began this year after the industry weathered heightened skepticism following the 2022 marquee crash. .
Although the bankruptcies of exchanges such as FTX and Voyager were major setbacks, the resurgence of cryptocurrencies such as Bitcoin and Ethereum meant that investors made big gains in 2024. The cryptocurrency market is thriving again.
David Kemmerer, CoinLedger CEO
