Average crypto portfolio up $2,804 so far in 2024, CoinLedger says (2024)

The average crypto portfolio is up by $2,804 so far this year, according to a study by cryptocurrency tax software platform CoinLedger.

The unrealized average gains in 2024 contrast the $887.60 realized gains the average crypto investor made throughout 2023. The figure marks a continued turnaround following the turmoil of 2022, when the average investor suffered over $7,000 in losses amid the collapse of several crypto firms and a severe bear market.

“The cryptocurrency market is thriving once again,” CoinLedger CEO David Kemmerer said. “Though the bankruptcies of exchanges like FTX and Voyager were major setbacks, investors have seen considerable gains in 2024 due to the resurgence of cryptocurrencies like Bitcoin BTC -4.30% and Ethereum ETH -7.080% .”

The report's statistics were generated via CoinLedger’s proprietary user base of more than 500,000 crypto investors. Kemmerer previously told The Block that the majority (80%) of CoinLedger’s users are from the United States, with 6% from Australia, 5% from Canada, and 9% from other countries.

Bitcoin and Ether provide largest unrealized gains

Bitcoin and Ether represent the largest gains among CoinLedger’s user base this year in raw U.S. dollars. Bitcoin has gained 58% and Ether 47% year-to-date, according to The Block's price page. Solana, cardano and polygon make up the remainder of the top five largest U.S. dollar gains, respectively.

“Despite ongoing regulatory troubles and recent legal charges against former CEO Changpeng Zhao, Binance’s BNB coin came in #6,” CoinLedger added.

The VGX token, associated with the now-bankrupt crypto broker Voyager, is the biggest loser, followed by chainlink, luna, hedera and tezos.

Which cryptocurrencies are held the longest?

Bitcoin again leads the pack as the longest-held cryptocurrency among the tax platform’s user base. “BTC holders are typically believers in the long-term value of the cryptocurrency,” CoinLedger said.

BNB, ether, cardano and chainlink make up the rest of the top five, with Algorand, Polygon, Solana, Fantom and Polkadot rounding out the top ten.

The most used wallets and exchanges in 2024

In 2024, MetaMask was the most commonly imported wallet among CoinLedger’s users, followed by Ledger’s hardware wallet and Coinbase’s web3 wallet. Trust Wallet and Phantom are currently fourth and fifth, respectively.

In terms of centralized exchanges, Binance and Coinbase top the pile. “Despite ceasing operations in the United States in 2023, KuCoin still claimed the #3 spot,” CoinLedger said.