CoinLedger, a cryptocurrency tax software platform, reported that the average crypto investor's portfolio experienced gains of $5,482 in 2024. This surge represents a significant uptick from the average realized gains of $887.60 in 2023.

The increase is a recovery from the severe losses of $7,102 on average faced by investors during the bear market of the previous year.

According to CoinLedger CEO David Kemmerer, the positive trend in cryptocurrency investments is a result of the bull market that has been further fueled by the outcomes of the 2024 presidential election. Kemmerer highlighted the growing enthusiasm for digital assets, which has reached new heights post-election.

The data for the report was gathered from CoinLedger's proprietary user base, which exceeds 500,000 crypto investors. The majority of these users are based in the United States, accounting for 80% of the total, while 6%, 5%, and 9% are from Australia, Canada, and other countries, respectively.

In the realm of individual cryptocurrencies, SUPER, HYPE, and BTC led the way with the largest unrealized gains among users. SUPER, the digital currency of the SuperVerse blockchain gaming ecosystem, and HYPE, the native token of Hyperliquid, were the top performers by raw U.S. dollar amount, indicating the appeal of newer crypto projects. Bitcoin was accompanied by SHIB and RENDER in the top five for unrealized gains.

Conversely, ETH was at the forefront of unrealized losses for CoinLedger's users in 2024, with ADA, POL, ATOM, and CRO completing the list of the top five cryptocurrencies with the highest losses. CoinLedger suggested that ETH's decreased performance could be partly attributed to increased competition from the Solana blockchain.

Bitcoin also maintained its status as the longest-held cryptocurrency among CoinLedger's users for the second consecutive year, showcasing the steadfastness of BTC investors. Following Bitcoin, ETH, XRP , and ADA were the next longest-held digital assets.

When examining the most common wallets and exchanges used by CoinLedger's clients, Ledger hardware wallets were the most popular for importing data, indicating a preference for secure storage solutions. Web3 wallets such as MetaMask, Phantom, Coinbase (NASDAQ: COIN ), and Trust Wallet were also prevalent, with Ledger leading the pack.

In terms of centralized exchanges, Coinbase and Crypto.com surpassed Binance, which fell to third place due to regulatory challenges and a substantial settlement with U.S. authorities in 2023.

Kraken ranked fourth in popularity for exchange imports on CoinLedger. Despite Binance.US having faced suspension of U.S. dollar transactions in June 2023, it remained a top-five imported exchange in 2024, with the platform announcing the restoration of fiat functionality on Wednesday. Robinhood (NASDAQ: HOOD ) and KuCoin were also noted as common sources of exchange data for the users of CoinLedger.

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