Last year’s crypto market showed a remarkable turnaround from the previous tumultuous period, with investors experiencing modest but positive gains. CoinLedger’s recent data paints a picture of resilience and recovery in the crypto space.

Average Gains Signal Market Recovery

The year 2023 was a breath of fresh air for crypto investors who, on average, pocketed gains of $887.60. This positive shift came after a challenging 2022, where each investor faced average losses over $7,000, primarily due to the downfall of several crypto giants and a prolonged market downturn.

Insightful Data from CoinLedger’s Report

According to CoinLedger CEO David Kemmerer, the crypto market is experiencing growth once more, especially after the FTX collapse that led to a significant drop in asset prices. The data, extracted from the platform’s substantial user base of over half a million, predominantly from the U.S., indicates a promising trend for the industry.

Ethereum Takes the Lead

Ethereum emerged as the crypto of choice among CoinLedger users in 2023, with Solana, Bitcoin, BNB, and Polygon following suit. Interestingly, Bitcoin’s third-place in disposals suggests a ‘HODL’ mentality among its investors, in contrast to those of other cryptocurrencies.

Most Popular Platforms and Exchanges

In terms of transaction volume, Ethereum also dominated blockchain transactions imported into CoinLedger’s tax software. Following Ethereum, the list includes Bitcoin, Binance Smart Chain, Polygon, and Avalanche C-Chain. Coinbase stood out as the exchange of choice for the American user base.

Binance Navigates a Rough Year

Despite facing a hefty $4.3 billion settlement with U.S. authorities and an SEC lawsuit, Binance.US managed to maintain its popularity among CoinLedger users, indicating a resilient reputation among its clientele.