The United States of America (USA) has topped in earnings from cryptocurrency and made a profit of around $47 billion in realised crypto gains.
Cryptocurrency adoption around the globe
Currently, there is a push to increase crypto usage all over the globe which has resulted in competition between the developed and the developing world. Residents in the Global North (developed countries) often have better as well as legal access to crypto services, but people who are in economies which support unbanked individuals experience high levels of crypto adoption.
USA win the race of realised crypto gains
According to a recent report, the USA has earned $47 billion in terms of cryptocurrency profits in 2021. It has topped the world in crypto gains. The United Kingdom (UK) came in the second position with earnings of nearly $8 billion. Germany, Japan, China, Turkey, and Russia followed the USA and the UK in crypto earnings in 2021.
The countries which were apparently open to cryptocurrency innovation witnessed comparatively modest crypto profits. These were the United Arab Emirates (UAE), Mexico, and Singapore.
China and cryptocurrency profit
Despite having a crackdown on crypto mining and related activities in China, it has surprised all by securing a place in the top 5 countries for maximum crypto gains. China’s realised crypto gains in 2021 were $5.1 billion which is 194% higher year-over-year from 2020.
The growth for China is looking very good however, the realised profit growth rate of it is slower than other countries. In comparison, realised crypto profits in the United States increased by roughly 476% in the same time period.
Ethereum claimed the top spot with $76.3 billion in total realised gains, while Bitcoin raked in $74.7 billion.
