According to a fresh poll, Bitcoin continues to be the favorite cryptocurrency among South Korean investors. However, Ripple has managed to outshine Ethereum in terms of popularity within this group.
According to a study carried out by South Korean news source News1, it’s Bitcoin (BTC) that continues to be the preferred cryptocurrency among investors from the region. Interestingly, XRP (XRP) has managed to overtake Ethereum (ETH) in terms of popularity within this group.
Between December 24th and 26th, 2024, a survey queried over 5,220 investors about their preferred cryptocurrencies. This survey focused on the top 10 digital currencies based on market capitalization in South Korea. The findings revealed that Bitcoin was the most popular pick, followed closely by XRP, and Ethereum ranked third.
As an analyst, I’ve observed that Bitcoin has reigned supreme for quite some time, but Ripple has held its ground, particularly in the South Korean market. Since 2017, it’s been a preferred choice among many Korean investors, often referred to as their “favorite coin.” Despite facing hurdles such as the lawsuit with the U.S. Securities and Exchange Commission, Ripple has managed to maintain robust support. Remarkably, in 2024, it experienced a staggering 400% price surge.
Currently, the CEO of CryptoQuant, Ki Young Ju, has voiced serious worries regarding the state of South Korea’s economy. He has been vocal about his disapproval of the country’s economic strategies, specifically highlighting the increasing strength of the Korean Won and the lack of appeal in domestic assets.
Ju additionally noted that the worth of Tether’s (USDT) on Upbit, a significant South Korean trading platform, had now matched the International Monetary Fund (IMF) exchange rate, which could potentially indicate trouble for the South Korean economy, particularly regarding cryptocurrencies.
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2025-01-07 13:57