Crypto Boom 2024: CoinLedger Research Shows Average Portfolio Value Surges Over $2,000

2024 is already proving to be a very profitable year for ordinary investors.

CoinLedger recently released data showing that the average cryptocurrency portfolio has grown significantly, reaching $2,804, according to the platform.

This significant growth contrasts with the small average realized gains of less than $1,000 observed in 2023.

Unrealized crypto gains reflect market resilience

CoinLedger data shows that investors suffered an average loss of more than $7,000 in 2022, but in 2024 they witnessed a clear recovery. The increase in unrealized gains highlights the resilience of the cryptocurrency market.

Against the backdrop of these developments, CoinLedger CEO David Kemmerer expressed optimism about the industry’s development trends. He emphasized the “booming” nature of the cryptocurrency market and attributed this recovery to the resurgence of cryptocurrencies such as Bitcoin and Ethereum.

CoinLedger’s insights are derived from its extensive user base, including more than 500,000 cryptocurrency investors worldwide. The majority of these users are from the United States, with additional contributions from Australia, Canada, and other countries. Data from CoinLedger provides a snapshot of market performance.

BTC price is trading sideways on the 4-hour chart | Source: BTC/USDT on TradingView.com

Key Trends and Observations

An analysis of the top-performing assets among CoinLedger’s user base found that Bitcoin and Ethereum were the top-performing assets, registering the largest dollar value growth, while Solana (SOL), Cardano (ADA), and Polygon (MATIC) ranks in the top five.

For context, Bitcoin and Ethereum have gained roughly over 50% since the beginning of the year. And SOL, ADA and MATIC have only seen about 30% growth so far this year.

Interestingly, despite regulatory challenges and legal scrutiny, Binance’s BNB token remains a significant player, ranking sixth in terms of earnings.

Additionally, insights into investor behavior point to Bitcoin’s enduring popularity as the most-held cryptocurrency among CoinLedger users. This trend is consistent with CryptoQuant’s latest findings, which indicate that Bitcoin exchange reserves have now fallen to their lowest levels since early 2021.

Bitcoin trading reserves plummet | Source: CryptoQuant

Data from CryptoQuant highlights this shift, revealing that more than 90,700 Bitcoins have been withdrawn from major cryptocurrency exchanges in the past month.

This notable trend marks a decrease in the available supply of Bitcoin on these platforms, indicating a strategic shift among investors towards long-term asset holding strategies.

Investor behavior patterns in response to Bitcoin outflows from exchanges and towards cold storage solutions may be influenced by a number of factors, including the steady rise in the value of the digital asset, as well as anticipation of the upcoming Bitcoin halving event and US approval of spot Bitcoin trading Major events in exchange-traded funds (ETFs).

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