Cryptocurrency investment are risky, but are profitable, says a new report by data analytics firm Chainalysis.
According to Chainalysis, the United States lead by a wide margin at an estimated $47 billion in realized cryptocurrency gains, followed by the UK, Germany, Japan, and China.
“We believe this reflects increased demand for Ethereum as the result of DeFi’s rise in 2021, as most DeFi protocols are built on the Ethereum blockchain and use Ethereum as their primary currency.
For instance, the United States estimated realized cryptocurrency gains grow 476 per cent, up from $8.1 billion to $47.0 billion.
“Our analysis of cryptocurrency gains should be encouraging to the cryptocurrency world, and reflects the growth of the ecosystem in 2021 — especially in DeFi.