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A recent survey showed that although Bitcoin remains the most preferred cryptocurrency among investors in South Korea, Ripple has overtaken Ethereum in terms of popularity.
Bitcoin (Bitcoin) remains the preferred cryptocurrency among South Korea investors, while XRP (XRP(Exceeded Ethereum)Ethereum) in popularity, according to reconnaissance Conducted by Korean news outlet News1.
From December 24-26, 2024, over 5,220 investors were asked about their top cryptocurrency options. The survey included the top 10 cryptocurrencies by market capitalization in South Korea. The results showed that Bitcoin came in first place, XRP in second place, and Ethereum in third place.
Bitcoin has been a leader for a long time. On the other hand, Ripple has been very popular in South Korea as well, the report notes. The currency has been known as the “coin of choice” for many Korean investors since 2017. Even when Ripple faced challenges, such as a lawsuit with Ripple US Securities and Exchange CommissionHowever, it still maintains strong support as in 2024 Ripple saw a massive 400% price increase.
Meanwhile, CryptoQuant CEO, Ki Young Ju Express Serious concerns about the state of the Korean economy, criticizing the country’s economic policies, noting, in particular, the high value of the Korean won and the unattractiveness of local assets.
Joe also pointed out that the value of Tether (USDT) on Upbit, a major exchange in South Korea, has already managed to reach the interest rate set by the International Monetary Fund which could be a bad sign for the South Korean economy especially regarding cryptocurrencies.
