While South Korean investors have a big influence on altcoins, a recent survey revealed which cryptocurrencies investors prefer the most.
According to a survey conducted by local news agency News1, South Korean investors said they mostly prefer Bitcoin (BTC) and XRP.
While XRP overtook the largest altcoin Ethereum in investor interest, Bitcoin maintained its top spot as the most preferred cryptocurrency in the country.
The survey in South Korea continued for two days from December 24 to 26. 5,200 people participated in the survey. They asked the participants which cryptocurrency they preferred most when investing.
As a result of the voting, Bitcoin came in first place. Ripple came in second and Ethereum (ETH) came in third. Dogecoin (DOGE) came in fourth place, followed by Bitcoin Cash (BCH) in fifth place.
Experts who evaluated the survey results said that the approval of spot Bitcoin ETFs was responsible for Bitcoin's first place. Because with the ETF approval, Bitcoin has become a highly preferred asset among institutional investors.
The striking point in the survey results was that XRP was preferred over Ethereum. With these results, XRP once again proved that it is the favorite cryptocurrency of South Korean investors.
*This is not investment advice.
