South Korea’s GenZ Investors Prefer XRP Over Bitcoin and Ethereum
South Korea’s Generation Z (GenZ) investors are showing a strong preference for altcoins, particularly XRP, according to a recent report from News1 Korea. The report analyzed investment data from Bithumb, one of South Korea’s leading crypto exchanges, and highlighted the distinct investment behaviors of different age groups.
Key Points:
– GenZ investors in their 20s are more inclined towards “aggressive” investments, favoring altcoins over Bitcoin and Ethereum.
– Bitcoin and Ethereum are considered “long-term” and “stable” investments due to their perceived low volatility.
– Approximately 82.5% of GenZ investors have invested in altcoins, with XRP being the preferred choice for 20.7% of them.
– In contrast, investors in their 30s show a higher affinity for Bitcoin and Ethereum, sticking with the established crypto leaders.
The trend of GenZ investors leaning towards altcoins is further supported by a Bitget report, which states that almost half of the crypto copy traders on the platform belong to the GenZ demographic.
Closing Paragraph:
The popularity of XRP among younger South Korean investors contrasts with the legal battle between Ripple and the US Securities and Exchange Commission (SEC) over the token. Crypto lawyer John Deaton suggests that the SEC’s lawsuit may have set XRP’s trajectory back in the US market by three years. Despite this, XRP is currently trading at $0.52, experiencing a 1.9% increase in the past 24 hours with a trading volume of $1 billion. The rise of altcoins, particularly among GenZ investors, is reshaping the crypto landscape in South Korea.
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