Ethereum (ETH) outshined bitcoin (BTC) in a ranking of the top cryptocurrencies by realized gains globally, with USD 76.3bn taken out in fiat profits in the previous year compared with USD 74.7bn in realized for bitcoin.
The higher profits that ETH holders have discovered are likely a result of the rise of decentralized finance (Defi) in 2021. In addition, Defi applications are mostly built on Ethereum, where ETH is the primary currency. However, every country doesn’t follow the same pattern of higher realized profits among ETH investors than among BTC investors.
In Japan, BTC investors were held responsible for a much higher share of the total crypto gains, with USD 4bn in profits from BTC compared to just USD 790m from ETH.
Overall, investors worldwide realized total gains of USD 162.7bn last year, compared to USD 32.5bn in 2020.
Moreover, the report said that the United States leads the ranking of countries that have discovered the most profits from crypto “by a broad margin.”
Lastly, the country saw realized profits of USD 46.95bn last year, significantly higher than number two on the list – the United Kingdom – which saw USD 8.16bn taken out as profits. Germany, Japan, and China followed the US and UK as the top five countries by realizing crypto gains last year.
Lastly, with a year-over-year growth rate in realized gains of 194%, the growth in China is significantly behind that of, for instance, the US, which saw growth of 476% during that same period.