South Korean Gen Z Investors Favor Ripple's XRP Over Bitcoin and Ether: Study Reveals
Summary:
Gen Z investors in South Korea are showing a strong preference for altcoins, particularly Ripple's XRP, over Bitcoin and Ether. A recent study found that investors in their twenties are more aggressively investing in altcoins, with XRP being the top choice. However, Ripple is currently facing regulatory scrutiny and a lawsuit in the US. South Korea is also cracking down on crypto activities, including tax evasion and combating crypto-related crimes.
A recent report from South Korea suggests that Generation Z investors in the country are more inclined to invest in altcoins, specifically Ripple's XRP, rather than Bitcoin and Ether. The study analyzed investment data from Bithumb, a popular crypto exchange, and found that investors in their twenties showed a more aggressive investment tendency compared to other age groups. This age group also had a higher proportion of investments in altcoins, excluding Ether, with XRP being the most favored digital asset. Interestingly, a report from Bitget revealed that Generation Z represents almost half of all crypto copy traders. On the other hand, investors in their thirties had the highest percentage of BTC and ETH investments. Despite this growing interest in XRP, Ripple continues to face regulatory scrutiny and a lawsuit in the United States, with some experts estimating that the altcoin has lost three years of adoption due to the legal issues. Meanwhile, South Korea has been tightening its regulations on crypto activities, including tax evasion and combating crypto-related crimes.
Published At
8/23/2023 1:28:59 PM
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