Chainalysis releases report on “2023 Cryptocurrency Gains by Country”
In the report, Taiwan ranks 31st with gains of $310 million. The United States takes the top spot, accumulating an estimated $9.36 billion in cryptocurrency profits, closely followed by the United Kingdom. However, the story goes beyond these economic powerhouses.
Countries like Vietnam, China, Indonesia, and India not only make it to the top but also demonstrate the growing influence and success of middle-income countries in the cryptocurrency field. This trend greatly speaks to the global acceptance and influence of cryptocurrencies, particularly in regions previously dominated by traditional financial powers.
However, China, as a cryptocurrency powerhouse, only ranks fourth, which many people find surprising.
With the strong performance of the cryptocurrency market in the first quarter of 2024 and mainstream cryptocurrencies reaching new highs, Bitcoin seems to benefit from favorable regulatory developments and increased institutional interest, indicating a bright future after the halving.
This upward trend suggests that the cryptocurrency gains in 2023 may have just begun, reminding investors of the glorious bull market of 2021.
Furthermore, with Bitcoin and Ethereum already achieving impressive gains at the beginning of the year, they may create another milestone in cryptocurrency history.
Chainalysis
Further reading:
Chainalysis: Exchanges Preferred for Laundering Stolen Funds, North Korean Hacker Group Switches to New Coin Mixing Protocol YoMix
2023 Cryptocurrency Illicit Flows: Stablecoins Becoming the Choice for Criminals, Ransomware Still Prefers Bitcoin