As it is known, South Korean investors have started to play a role in the prices of cryptocurrencies recently.
Altcoins directed by South Korean investors are experiencing an increase in price as well as the increase in transaction volumes.
A study at this point revealed the crypto currency trends of South Korean investors.
Chinese journalist Wu Blockchain shared the research.
Data shows that investors in the 20-year-old age group in South Korea only accounted for 17.5% of their total investment in Bitcoin and Ethereum, and their favorite altcoin was XRP, accounting for 20.7%. The 30-year-old age group has the highest investment weighting in Bitcoin…
— Wu Blockchain (@WuBlockchain) August 23, 2023
Accordingly, investors in the 20-year-old group have invested more in altcoins other than Bitcoin or Ethereum, which are seen as long-term investments due to the relatively low volatility compared to other cryptocurrencies. Their favorite altcoin was XRP.
Because BTC and ETH investments of this age group accounted for only 17.5% of the total investment, while XRP investments were 20.7%.
Bitcoin and Ethereum investments seem to be the highest in the 30-year-old group. While the BTC, ETH investment rate of this age group is 28.2%, 23.0% for those aged 60 and over, 22.2% for those aged 50; It was found to be 21.7% in the 40-year-old group.
Among altcoins, the rate of investment in XRP was the highest among all age groups, including the 20-year-olds.
While the investment rate of XRP is 20.7% in the 20-year-old group, it is 17.0% in the 30-year-old group; 11.8% in the 40 age group; 14.9% in the 50 age group; It was found to be 13.8% in the 60 and over age group.
Kim Dong-hwan, CEO of South Korea's virtual asset specialist Wonderframe, said:
“Investors in the 20-year-old seem to have a tendency to invest in short-term profits rather than long-term investments.
The fact that they are investing more in XRP compared to Bitcoin and Ethereum is also an indication of this trend.”
*Not investment advice.
