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Cryptocurrency investors from the United States have grasped profits in crypto six times greater in total than in the United Kingdom, the second-highest country in terms of profits.
A report by Chain analysis reveals that crypto investors in the United States gathered a record of $46.9 billion in realized profits throughout the year 2021, making the United States lead the rest of the world by a landslide. The United kingdom follows the United States at some distance at $8.1 billion with Germany at $5.8 billion.
This report is revealed as the worldwide cryptocurrency adoption has achieved widespread recognition. The United States bore witness to a heavy increase in adoption and profits, putting the total estimated profit at 476% from $8.1 billion in the previous year.
Tributes were also given to countries that surpassed their normal economic rankings. In spite of Turkey being ranked globally as number 11, the country was given a rank at number 6 when it came to profits realized from crypto.
China was one of the giant nations that did not achieve the same enormous gains like other countries. In the annual fiscal report of 2021, China’s total crypto profit was estimated to be around $5.1 billion, up from $1.7 billion in 2020. This correlates to a year-over-year growth rate of 194%. Nonetheless, this increase is still impressive especially considering the immense crypto bans that were imposed in China in the year 2021.
China’s result is faint compared to countries such as the UK and Germany, which realized a 431% and a 423% increase, respectively, last year.