South Korean crypto Investors are filing their bags with XRP

The latest finding showed that the ups & downs in the XRP lawsuit remained unfazed among South Korean crypto investors. 

South Korea is a very big hub for the crypto sector and Korean financial regulators regulate the crypto sector with the help of some new & traditional financial rules. In the coming few years, this country will introduce new crypto rules to ensure zero misuse chances of crypto assets.

On 24 Aug 2023, Popular South Korean crypto exchange Bithumb published a report on the surging activities of Korean crypto traders on the platform. 

According to Bithumb data findings, 82% of the 20s aged crypto traders prefer to invest in highly volatile crypto assets over Bitcoin & Ethereum. While 28.2% of people belonging to the 30-year-old age group prefer to invest in Bitcoin & Ethereum. This fact shows that the thinking of people belonging to different age groups is different toward a particular category of crypto assets.

In the last few months, it has been found that Crypto investors on the platform investing in XRP investment in their 30s, 40s, 50s, 60s, and others were – 17%, 11.8%, 14.9%, and 13.8%, respectively.

In the last few months, XRP trading was highly concentrated on all South Korean crypto exchanges, as the rumours already confirmed that Ripple Labs would win the case & later Ripple secured partial victory against the United States Securities Exchange Commission (SEC). 

However, news about XRP coin is now cold enough but still Korean crypto traders are focussing on XRP coin trading. In short, the wave of XRP coin is not getting down in the Korean crypto community.

On these data findings, Kim Dong-hwan, CEO of South Korea’s virtual asset specialist Wonderframe, said that early age Investors mainly focused on short-term profit and this is the main reason why they prefer to go with altcoins investment over the top two crypto assets. 

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