1. BITBILIHome
  2. Article

20% of GenZ investors in South Korea have XRP as their most preferred altcoin: Reports

• 50 views

TL;DR Breakdown

  • GenZ investors in South Korea are displaying a strong inclination towards investing in altcoins, particularly Ripple (XRP), as opposed to the more traditional choices of Bitcoin (BTC) and Ethereum (ETH).
  • The report revealed that a substantial 82.5% of investors in their 20s allocated their funds to altcoins, excluding Ethereum.

Description

A recent report from a local South Korean news outlet has highlighted an interesting trend among cryptocurrency investors from Generation Z (GenZ) in South Korea. According to News1 Korea, GenZ investors in the country are displaying a strong inclination towards investing in altcoins, particularly Ripple (XRP), as opposed to the more traditional choices of Bitcoin … Read more

A recent report from a local South Korean news outlet has highlighted an interesting trend among cryptocurrency investors from Generation Z (GenZ) in South Korea. According to News1 Korea, GenZ investors in the country are displaying a strong inclination towards investing in altcoins, particularly Ripple (XRP), as opposed to the more traditional choices of Bitcoin (BTC) and Ethereum (ETH).

The analysis conducted by News1 Korea focused on investment data from the first half of the year gathered from the popular South Korean crypto exchange Bithumb. The data pointed out a significant disparity in investment preferences based on age groups. Notably, individuals in their 20s were found to exhibit a more “aggressive” approach to investing, showcasing a heightened risk appetite compared to other demographics.

Interestingly, GenZ investors demonstrated a higher proportion of investments in altcoins beyond the well-known BTC and ETH, which were categorized in the study as both “long-term” and “stable” investments due to their relatively lower volatility. The report revealed that a substantial 82.5% of investors in their 20s allocated their funds to altcoins, excluding Ethereum.

Why South Korea’s GenZ is ditching Bitcoin for Altcoins

Out of the various altcoins available, Ripple (XRP) emerged as the favored choice among GenZ investors, with a notable 20.7% of them holding the digital asset in their portfolios. This statistic aligns with an August 4 report from the crypto derivatives exchange Bitget, which asserted that GenZ constitutes nearly half of all crypto copy traders.

Contrastingly, the study uncovered that investors in their 30s were more inclined to invest in Bitcoin and Ethereum, showcasing a broader trend of different age groups having distinct preferences within the cryptocurrency market.

The analysis takes place against a backdrop of ongoing challenges for Ripple, including regulatory scrutiny and a lawsuit in the United States. Legal experts estimated that these issues have set Ripple’s adoption timeline back by approximately three years. Meanwhile, South Korea itself has been tightening its regulations surrounding cryptocurrency activities. Recent news on August 22 indicated that authorities in the city of Cheongju are planning to confiscate cryptocurrency holdings from thousands of users who have managed to evade local taxes.

Furthermore, the South Korean crypto industry has seen notable instances of legal action against bad actors. The CEO of the crypto exchange Bitsonic was arrested by South Korean authorities on August 9 on allegations of embezzling $7.5 million in user funds, and the individual will face trial without preliminary detention.

In response to the increasing concerns about illicit activities in the crypto market, South Korea took a step toward stricter regulation on July 26 by establishing an interagency investigation unit aimed at combatting crypto-related crimes. The move was motivated by the rise in such activities and the desire to enhance investor protection in the cryptocurrency sector.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:20% of GenZ investors in South Korea have XRP as their most preferred altcoin: Reports

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年8月24日 00:01
Next 2023年8月24日 04:04

Related articles

  • Solana’s network performance improves, records 100% uptime in Q2

    TL;DR Breakdown Solana has had 100% uptime since February 25, a full quarter without an outage Solana network upgrades include smooth 1.14 release, high-demand handling, and NFT state compression Solana co-founder Anatoly Yakovenko: Outages are the biggest challenge for them and the number one priority for the network Description Solana Foundation has released its network performance report showing that it has had a 100% uptime since February, a major improvement compared to last year’s outages. The network was only down for approximately 19 hours in February. The foundation notes that it has improved the network in the first half of 2023, which they measured … Read more Solana Foundation has released its network performance report showing that it has had a 100% uptime since February, a major improvement compared to last year’s outages. The network was only down for approximately 19 hours in February. The foundation notes that it has improved the network in the first half of 2023, which they measured and analyzed through uptime and the ratio of non-voting-to-voting transactions. Solana’s network has improved immensely  Solana has experienced…

    Article 2023年7月21日

  • Homefront squeeze: Escalating US housing costs amidst worrying inflation

    TL;DR Breakdown Rising housing costs are adding to the economic strain Americans feel, particularly with expenses like gas and groceries already rising due to inflation. There’s a notable gap between official data showing cooling inflation indicators and the lived experiences of consumers facing rising costs for essentials. The housing market’s ongoing tightness may persist, potentially leading to slower, more stable price increases in the future. Description The impact of inflation is felt by Americans, especially in expenses like gas and groceries. While inflation has moderated compared to a year ago, housing costs, categorized under shelter, significantly contribute to the overall Consumer Price Index (CPI) increase. In August, shelter costs rose by 0.3%, marking the 40th consecutive monthly increase and showing a … Read more The impact of inflation is felt by Americans, especially in expenses like gas and groceries. While inflation has moderated compared to a year ago, housing costs, categorized under shelter, significantly contribute to the overall Consumer Price Index (CPI) increase. In August, shelter costs rose by 0.3%, marking the 40th consecutive monthly increase and showing a 7.3%…

    Article 2023年9月25日

  • Reserve Bank of Australia maintains interest rate at 4.1% while inflation remains elevated

    TL;DR Breakdown The Reserve Bank of Australia (RBA) has kept its interest rate unchanged at 4.1 percent for the third consecutive month. While inflation in goods prices has moderated, the costs of many services are increasing notably, and rent inflation remains high. Treasurer Jim Chalmers highlighted that the RBA had pointed out economic uncertainties, including the “painful squeeze” on household finances. Description The Reserve Bank of Australia (RBA) has maintained its interest rate at 4.1 percent for the third consecutive month. However, they have indicated that additional rate hikes might be necessary to keep inflation in check. This decision keeps the cash rate at its highest level since April 2012 and marks the fourth pause in the … Read more The Reserve Bank of Australia (RBA) has maintained its interest rate at 4.1 percent for the third consecutive month. However, they have indicated that additional rate hikes might be necessary to keep inflation in check. This decision keeps the cash rate at its highest level since April 2012 and marks the fourth pause in the current cycle of rate increases,…

    Article 2023年9月5日

  • Where to buy Worldcoin?

    TL;DR Breakdown Worldcoin, under the leadership of OpenAI’s chief Sam Altman, was released on Monday after collecting more than 2 million users during a beta period. At the core of the Worldcoin project is an eye-scanning “orb” that must be used in person and provides users with a unique digital identity to confirm they are real humans and not bots. WLD token is available on global crypto exchanges such as Binance, Huobi and Bybit. WLD has a circulating supply of 108,569,365 WLD coins and a max. supply of 10,000,000,000 WLD coins. Description Worldcoin, the ambitious crypto and digital ID initiative led by OpenAI’s chief Sam Altman, went live on Monday after years of development. The coin commits to verify users’ identities by scanning their eyes, potentially resolving one of the most pressing issues posed by recent advances in artificial intelligence, which have made it more difficult to … Read more Worldcoin, the ambitious crypto and digital ID initiative led by OpenAI’s chief Sam Altman, went live on Monday after years of development. The coin commits to verify users’ identities by…

    Article 2023年7月26日

  • Gemini Expands Its Horizons: Welcomes XRP Ledger to Its Platform

    TL;DR Breakdown Gemini now supports the XRP Ledger, bringing its total to 13 blockchain networks, enhancing trading options for its users. The XRP Ledger, overseen by Ripple, offers a unique consensus protocol, aiming to streamline cross-border transactions and remittances. Description In a significant move that underscores the ever-evolving landscape of the cryptocurrency world, Gemini, one of the leading cryptocurrency exchanges, has announced its support for the XRP Ledger. This addition broadens the platform’s offerings and aligns with its mission to pave the way for the next wave of financial, personal, and creative freedom. Contents hide … Read more In a significant move that underscores the ever-evolving landscape of the cryptocurrency world, Gemini, one of the leading cryptocurrency exchanges, has announced its support for the XRP Ledger. This addition broadens the platform’s offerings and aligns with its mission to pave the way for the next wave of financial, personal, and creative freedom. Contents hide 1 Gemini’s Growing Blockchain Family 2 Diving Deep into the XRP Ledger 3 What This Means for the Crypto Community 4 Conclusion Gemini’s Growing Blockchain Family Gemini’s…

    Article 2023年8月11日
TOP