This article is from cointelegraph.com.br and the original article can be read here in Portuguese
A survey of the data monitoring company on-chain Chainalysis revealed that Brazilian investors realized profits in the order of US$ 2.5 billion trading cryptocurrencies throughout 2021.
The amount equivalent to approximately R$ 11.65 billion in today’s quotation puts the Brazil in 15th place in the global ranking of profitability in operations involving crypto-assets carried out last year prepared by the company.
Profits realized in cryptocurrencies in 2021. Source: Chainalysis.
The country gained a position in relation to the profits realized by Brazilian investors in 2020, which had stood at approximately US$ 300 million. Thus, from 2020 to 2021, the profitability of operations carried out by Brazilian traders grew by 733%, in part favored by the bullish cycle that took the main cryptocurrencies in the market to new all-time highs.
It should also be added that the 2021 report expanded the focus of the study to all cryptocurrencies monitored by Chainalysis, while the 2020 report was restricted to Bitcoin (BTC).
With a big advantage over the others, the most successful traders of 2021 were the North Americans. With realized profits of US$46.9 billion, investors in USA surpassed the Brazilians by 18 times.
The low growth rate of profitability of Chinese investors is noteworthy when compared to other countries. Probably motivated by the crackdown on transactions involving crypto assets and the banning of cryptocurrency mining activities, profits made by the Chinese in 2021 grew by 194%. Less than half of earnings growth in the US (476%), UK (431%), Germany (423%) and more than three times lower than in Brazil.
The report charts the profitability of crypto investors in a year in which global cryptocurrency adoption has seen strong expansion. Overall, investors saw total gains of $162.7 billion in 2021, compared to just $32.5 billion in 2020 – a 400% growth favored both by the overall market rally and the change in survey methodology. , as mentioned earlier.
Most profitable cryptocurrency of 2021
The inclusion of other cryptocurrencies in the survey revealed the growing participation of the Ethereum (ETH) in the profits made by investors around the world, a fact that was highlighted in the report:
“Ethereum ended up surpassing Bitcoin in total realized profits globally by a ratio of $76.3 billion to $74.7 billion. We believe this reflects the increased demand for Ethereum as a result of the growth of the DeFi sector in 2021, as most DeFi protocols are built on the Ethereum blockchain and use Ethereum as the main currency.
In Brazil, there was an equitable share of the two main cryptocurrencies in the market in the profitability of investors.
As Cointelegraph Brasil recently reported, the Bitcoin-only trading volume grew 417% in 2021 in Brazil, moving R$ 103.5 billion, according to data from the annual report from Coin Trader Monitor.