A recent survey by News1 indicates that South Korean cryptocurrency investors have again shown a strong preference for Bitcoin, which remains the most preferred digital asset, with Ripple (XRP) now in second place, surpassing Ethereum (ETH).
A recent survey by News1 has revealed that South Korean cryptocurrency investors overwhelmingly prefer Bitcoin, which remains the top digital asset, followed by Ripple (XRP) in second place, surpassing Ethereum (ETH).
The survey was conducted on The POL, a blockchain-based voting platform, from December 24 to December 26, 2024. It gathered insights from 5,225 investors regarding their preferences among the top 10 cryptocurrencies in South Korea, based on market capitalization data from the Financial Intelligence Unit (FIU).
Bitcoin continues to hold the top spot, driven by increased institutional adoption and the approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. Ripple's strong showing in second place highlights its enduring appeal in South Korea, a trend that began in 2017 when it was widely dubbed the "favourite coin" among domestic investors. Ethereum follows in third place, succeeded by Dogecoin and Bitcoin Cash. Interestingly, Bitcoin Cash has gained more popularity domestically than global assets like Solana and Cardano, reflecting strong local interest.
Despite facing challenges such as a lawsuit with the U.S. Securities and Exchange Commission (SEC), Ripple experienced a significant resurgence in 2024. Following the departure of SEC Chairman Gary Gensler, Ripple's value surged by 400% at its peak, leading it to be known as the "beneficiary coin," according to the report.
This development comes as South Korea aims to stabilize its financial markets amid ongoing political unrest. Eun-bo Jeong, Chairman of the South Korean Exchange, announced plans to explore cryptocurrency exchange-traded funds (ETFs) to attract investors back into the market. At the 2025 Securities and Derivatives Market Opening Ceremony on January 2, Jeong highlighted alternative assets, such as crypto ETFs, as being essential for revitalizing the market. He pointed to the recent sell-off in stocks, which was influenced by political instability. He suggested looking at global examples to diversify the economy and attract local and foreign investors.
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