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Despite facing significant turmoil due to increasing regulatory pressures, South Korean investors have remained steadfast. In fact, XRP has become the most favored asset in their portfolios, particularly among those in their 20s. Recent data reveals that XRP constitutes 20.7% of their investments, outpacing the combined 17.5% allocation for Bitcoin and Ethereum.
In general, the share of XRP in the portfolios of individuals in their twenties surpasses that of Bitcoin and Ethereum by roughly 3.2%.
XRP Surpasses BTC in Korea as Preferred Investment
People in this specific age group tend to favor “aggressive” investment strategies, unlike investors from other age brackets in South Korea. Additionally, this segment of market participants shows a preference for altcoins over Bitcoin and Ethereum.
The Bithumb report, which thoroughly analyzed investor portfolio data for this year, indicated that over 82% of investors in their twenties prefer altcoins with higher volatility compared to the leading two crypto-assets globally.
This contrasts with the 30-year-old demographic, which exhibits the highest investment allocation in Bitcoin and Ethereum at 28.2%, highlighting differing preferences among various age groups in the nation.
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Kim Dong-hwan, CEO of South Korea’s virtual asset firm Wonderframe, suggests that investors in their 20s tend to focus on short-term gains rather than long-term investments.
Meanwhile, the investment ratios for XRP among investors in their 30s, 40s, 50s, 60s, and others were recorded at 17%, 11.8%, 14.9%, and 13.8%, respectively.
South Korea’s XRP Focus
The findings are not unexpected, as XRP trading has been significantly concentrated on South Korean exchanges, with volumes on major local platforms Upbit and Bithumb occasionally surpassing those of Bitcoin and Ethereum.
Last year, XRP was identified as the second-most popular crypto-asset in the country following Bitcoin, according to a study by South Korea’s leading crypto exchanges – Upbit, Bithumb, Coinone, and Korbit. Consequently, XRP was deemed more appealing than Ether and Cardano, which ranked third and fourth, respectively.
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