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XRP Gains Popularity as Top Choice in South Korea, Followed by BTC and ETH

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Colin Wu, a Chinese crypto blogger and journalist, has taken to Twitter to highlight that within a specific age group of investors in South Korea, XRP has gained more popularity than prominent cryptocurrencies like Bitcoin and Ethereum. He referenced a recently released report from Bithumb, a leading South Korean exchange, to support his observation.

South Korean Investors in Their 20s Favor XRP Over Bitcoin and Ethereum, Bithumb Report Reveals

As per the findings of the Bithumb report, young investors in South Korea show a preference for XRP as their primary asset. XRP holds a significant share of 20.7% in their portfolios, surpassing the combined 17.5% share of Bitcoin and Ethereum. Notably, the proportion of XRP in the portfolios of individuals in their 20s is approximately 3.2% higher than that of Bitcoin and Ethereum.

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Young South Korean Investors Exhibit Aggressive Investment Approach, Favoring Altcoins Over Bitcoin and Ethereum

Individuals in this particular age demographic demonstrate a marked inclination towards “aggressive investment” when contrasted with other age segments in South Korea. Notably, they display a preference for altcoins over Bitcoin and Ethereum. The recent Bithumb report analyzes data from this year, revealing that 82.5% of investors in their 20s, who were subject to portfolio analysis, exhibit a preference for altcoins characterized by higher volatility compared to Bitcoin and Ethereum.

Bitcoin and Ethereum Favored by 30s, XRP Gains Popularity Among 20s

Investment inclinations exhibit variations across age brackets. Investors in their 30s predominantly lean towards allocating a significant portion of their funds into Bitcoin and Ethereum. Notably, the proportion of investment in BTC and ETH among individuals in this age group totals 28.2%. The distribution of investment percentages for other age segments is as follows: 40s – 21.7%, 50s – 22.2%, and 60s and older – 23.0%, as highlighted in the report.

Conversely, the XRP investment distribution is as follows: 20s – 20.7%, 30s – 17.0%, 40s – 11.8%, 50s – 14.9%, and 60s and older – 13.8%. These statistics underscore the varying investment preferences across different age demographics.

XRP Leads, Followed by Fellaz (FLZ) and Mines of Dalarnia (DAR)

XRP emerged as the leading choice for investors in their 20s, constituting 20.7% of their portfolio. Following XRP, Fellaz (FLZ), positioned at 2,296th by market capitalization, accounted for 5.8% of their holdings. Mines of Dalarnia (DAR), ranked 449th by market cap, secured 3.0% of the portfolio. Both FLZ and DAR were added to Bithumb’s listing on March 31 and January 27, respectively.

Notably, cryptocurrency expert Kim Dong-hwan, the head of Wonderfame, attributes the affinity of individuals in their 20s for XRP and lesser-known altcoins to their inclination towards seeking quick profits rather than pursuing long-term investment strategies. This preference for rapid gains could potentially explain the growing popularity of XRP and these smaller altcoins within this age group.

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