A recent survey reveals that while Bitcoin remains Korean investors' favorite cryptocurrency, Ripple (XRP) has surpassed Ethereum in popularity.
Key Findings from the Korean Cryptocurrency Market
- Bitcoin maintains dominance: Ranked as Korea's most preferred digital asset
- Ripple's surge to second place: XRP claims 21.4% investor preference
- Ethereum drops to third: With 18.3% market share among surveyed investors
The poll conducted by Korean news outlet News1 analyzed responses from 5,220 investors between December 24-26, 2024, covering Korea's top ten cryptocurrencies by market capitalization.
Why Ripple Gained Traction in Korea
- Historical popularity: Called "the favorite token" by Korean investors since 2017
- Resilience amid challenges: Maintained strong support despite SEC legal battles
- Price performance: 400% price surge in 2024 boosted investor confidence
👉 Discover why institutional investors are increasingly adopting XRP
Economic Context Affecting Crypto Markets
CryptoQuant CEO Ki Young Ju expressed concerns about Korea's economic policies, particularly regarding:
- The strengthening Korean won
- Declining attractiveness of domestic assets
- Tether's exchange rate parity with IMF rates on Upbit
"These economic indicators could significantly impact cryptocurrency adoption patterns," noted Ju during his recent analysis.
Methodology Insights
The survey employed weighted sampling across:
- Age groups (20s to 60s)
- Investment experience levels
- Geographic distribution
Results have a ±1.5% margin of error at 95% confidence level.
Market Implications
This shift suggests:
- Growing appetite for payment-focused cryptocurrencies
- Possible cooling of smart contract platform enthusiasm
- Increased importance of regulatory clarity for investor decisions
👉 See how XRP compares to other payment cryptocurrencies
Frequently Asked Questions
Q: Why is Bitcoin still Korea's top cryptocurrency?
A: Bitcoin's first-mover advantage, brand recognition, and status as "digital gold" maintain its dominance despite newer alternatives.
Q: What caused Ripple's price surge in 2024?
A: Key factors included positive legal developments, increased institutional adoption, and growing use in cross-border payments.
Q: How reliable is this survey data?
A: With 5,220 respondents and rigorous methodology, it represents one of Korea's most comprehensive crypto preference studies.
Q: Will Ethereum regain its position?
A: Market analysts suggest Ethereum's upcoming upgrades and ETF approvals could help it reclaim ground in 2025.
Q: How does Korea's crypto market differ globally?
A: Korean investors show stronger preference for altcoins and more active trading behavior compared to Western markets.
Q: What economic factors affect Korean crypto markets?
A: Exchange rates, domestic investment climate, and regulatory policies significantly influence local cryptocurrency trends.