Report: With over $47 billion in ‘realized’ crypto gains, this nation leads the pack

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The race for greater cryp­to adop­tion often leads to com­pe­ti­tion between so-called devel­oped coun­tries and devel­op­ing coun­tries. While economies in which cryp­to helps unbanked peo­ple often see high lev­els of adop­tion, res­i­dents in the Glob­al North enjoy eas­i­er – and often, legal – access to cryp­to-based ser­vices. How­ev­er, accord­ing to a study by Chainal­y­sis, one coun­try def­i­nite­ly made a killing in terms of cryp­to gains in 2021.

“We’re all living in Amerika”

The answer, was the Unit­ed States of Amer­i­ca, as the coun­try reaped rough­ly $47 bil­lion in “real­ized” cryp­to gains. The run­ner-up was the Unit­ed King­dom, with gains of a lit­tle more than $8 bil­lion. A wide dis­crep­an­cy indeed. Oth­er coun­tries behind these two were Ger­many, Japan, Chi­na, Turkey, and Rus­sia – in that order.

While it might be sur­pris­ing to see Chi­na still amongst the top five, Chainal­y­sis’ report not­ed that crack­downs could have affect­ed the country’s cryp­to growth rate. It stat­ed,

“In 2021, China’s total esti­mat­ed real­ized cryp­tocur­ren­cy gains were $5.1 bil­lion, up from $1.7 bil­lion in 2020, for a year-over-year growth rate of 194%. While that may sound sub­stan­tial, it rep­re­sents a low­er growth rate than oth­er countries’.”

To com­pare, the USA’s real­ized cryp­to gains shot up by around 476% in the same time frame.

So, com­ing to the ques­tion on your mind now – which coin or token won investors’ hearts world­wide? Well, hold on to your hats, because the answer was not Bit­coin. In fact, Ethereum took the crown for itself with total real­ized gains of around $76.3 bil­lion, while Bit­coin scooped up $74.7 bil­lion. The report put this down to the DeFi boom of 2021.

Anoth­er fac­tor of inter­est here is how coun­tries that were sup­pos­ed­ly open to cryp­to inno­va­tion saw rel­a­tive­ly low esti­mat­ed cryp­to gains. These includ­ed the Unit­ed Arab Emi­rates, Mex­i­co, and Singapore.

Not always a silver lining

USA might be enjoy­ing its cryp­to tro­phy, but there are con­cerns loom­ing on the hori­zon. For starters, Bitcoin’s cor­re­la­tion to tech stocks recent­ly hit a high last record­ed in the sum­mer of 2020. Arcane Research revealed that the king coin’s 30-day-cor­re­la­tion to Nas­daq was 0.70.

Oth­er sources of anx­i­ety include the ongo­ing Rus­sia-Ukraine War and the ques­tion of how the Fed­er­al Reserve rate hike FUD might hit the grow­ing cryp­to sector.

Not a load of bull

At press time, the mar­ket was in a state of excite­ment and sus­pense as Bit­coin trad­ed at $41,572.90, while Ether was chang­ing hands at $3,080.77. Adding to that, San­ti­ment not­ed there was some inter­est in the key­word “pump,” sig­nal­ing a fear of miss­ing out on new buys.



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