A recent study indicates that while Bitcoin remains the top choice for South Korean investors, Ripple has overtaken Ethereum in terms of popularity.
Bitcoin (BTC) continues to be the preferred cryptocurrency among South Korean investors. XRP (XRP) has now surpassed Ethereum (ETH) in popularity, according to a survey carried out by Korean news outlet News1.
Conducted from December 24 to December 26, 2024, the survey polled over 5,220 investors regarding their favorite cryptocurrencies, focusing on the top 10 by market capitalization in South Korea. The outcome revealed Bitcoin in the lead, followed by XRP in second place and Ethereum in third.
Bitcoin has held the leading position for a considerable time. Meanwhile, Ripple has also enjoyed significant popularity in South Korea, as noted in the report. It has been referred to as the “favorite coin” of many Korean investors since 2017. Even amid challenges, such as the lawsuit against the U.S. Securities and Exchange Commission, Ripple has retained considerable backing, with a notable 400% price surge in 2024.
In other news, CryptoQuant CEO Ki Young Ju voiced serious concerns about the current state of the Korean economy, criticizing the country’s economic strategies, particularly the increasing value of the Korean Won and the declining attractiveness of local assets.
Ju also highlighted that the value of Tether’s (USDT) on Upbit, a prominent South Korean exchange, has aligned with the IMF rate, potentially signifying troubling times ahead for the South Korean economy, especially regarding cryptocurrencies.
