DailySun
A new survey indicates that although Bitcoin continues to be the top choice for South Korean investors, Ripple has overtaken Ethereum in popularity.
Bitcoin (BTC) holds its position as the preferred cryptocurrency among South Korean investors, with XRP (XRP) now more popular than Ethereum (ETH), according to a survey by the Korean news agency News1.
Conducted between December 24 and December 26, 2024, the survey polled over 5,220 investors regarding their preferred cryptocurrencies, focusing on the top 10 by market capitalization in South Korea. The findings revealed that Bitcoin was first, followed by XRP in second place and Ethereum in third.
Bitcoin has consistently been a leader. The report highlights that Ripple has also maintained a strong following in South Korea, often referred to as the “favorite coin” since 2017. Despite legal difficulties, such as a lawsuit with the U.S. Securities and Exchange Commission, Ripple has continued to enjoy robust support, achieving an impressive 400% price increase in 2024.
On another note, Ki Young Ju, CEO of CryptoQuant, voiced serious concerns regarding the Korean economy, criticizing national economic policies, particularly the increasing strength of the Korean Won and the diminishing appeal of local assets.
Ju also mentioned that the value of Tether’s (USDT) on Upbit, a leading South Korean exchange, has matched the IMF rate, which could signal troubling times for the South Korean economy, especially within the cryptocurrency sector.
