India behind Vietnam, Turkey in estimated crypto gains in 2021: Chainalysis

economictimes.indiatimes.com:

Ethereum and many more

crypto tokens scaled new life highs. Thanks to this rally, investors around the world realized total gains of $162.7 billion in 2021, compared to just $32.5 billion in 2020, shows data released by crypto analytics firm Chainalysis. But investors from which countries have added the most wealth? Answering the questions surrounding the theme, Chainalysis has released data for the second year in a row. This year, it has moved beyond Bitcoin and added more crypto tokens in its report.

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Geographical analysis in cryptocurrency is difficult due to the technology’s decentralized nature. Chainalysis has attempted to estimate this through a combination of transaction data and web traffic data. In its Global Crypto Adoption Index, derived through its methodology, the Chainalysis has included as many as 50 countries. United States topped the charts with an estimated realized gain of $49.95 billion, followed by the United Kingdom (UK) with estimated realized gains of $8.16 billion. The US topped the UK by about a wide margin of 575 per cent. Germany ($5.82 billion), Japan ($5.51 billion) and China ($5.06 billion) were other names in the top 5 countries in estimated realized gains, the data suggested. Jennifer Lu, Cofounder at Coinstore said the exponential increase in crypto profits in 2021 underlines the fact that crypto as an investment class has performed better than the traditional asset class. «We strongly believe that a homogenous global regulatory framework for cryptos is the need of the hour as it will fast-track the adoption of crypto-related products and services,» she added. Chainalysis analyzed that many emerging