“We believe this reflects increased demand for Ethereum as the result of DeFi’s rise in 2021, as most DeFi protocols are built on the Ethereum blockchain and use Ethereum as their primary currency,” the report says. Globally, Ethereum surpassed Bitcoin at $76.3b to $74.7b, but not all countries followed the pattern. For instance, Japanese investors profited nearly $4b from Bitcoin, compared to just $790m from Ethereum.
The report also reveals that in 2021 investors across the world realized total gains of $162.7b, which is a 400% increase compared to the shy $32.5 billion in 2020. The United States investors accounted for $47b in gains, followed by the UK ($8.1b), Germany ($5.8b), Japan ($5.5b), and China ($5b).