XRP Ranked as Favorite Crypto for Gen Z in South Korea: Report

South Korea’s Gen Z population has been shown to embrace XRP as their clear favorite, with preferences surpassing both Bitcoin (BTC) and Ethereum (ETH). This trend highlights a significant shift in the preferences of the younger generation towards XRP, renowned as a mainstream payment token.

Altcoins Lead Investment Class

According to a report from Bithumb, a South Korean top exchange, the cryptocurrency landscape is witnessing a generational shift in preferences, with a younger demographic showing a notable preference for the unique attributes and features that XRP brings to the table.

However, this shift could be attributed to various factors, including XRP’s distinctive use cases, technological innovations, and strategic partnerships that resonate more strongly with the values and interests of the Gen Z audience. Also, XRP’s focus on fast and cost-effective cross-border transactions likely aligns with the tech-savvy and globalized perspective of this demographic.

As per the report, 82.5% of investors in their 20s invested in altcoins, excluding ETH. Amongst the investors, reports show that the most popular altcoin invested in was Ripple (20.7%), thereby making it higher than that of BTC and ETH with 3.2%.

While BTC and ETH remain significant players in the global cryptocurrency market, XRP’s supremacy in South Korea highlights its strategic positioning. Its recognition is not just about trading volumes, it is about the consistent preference that South Korean traders have demonstrated for XRP over other major cryptocurrencies in the past year.

Evidently, younger investors are inclined towards altcoins with higher volatility compared to Bitcoin and Ethereum. This disposition is indicative of their desire for quick profits rather than long term investments. Other altcoins favored by the Gen Z include Fellaz (FLZ) and Mines of Dalarnia (DAR) which are both listed on Bithumb. 

XRP Lawsuit Victory Fuels Demand

Following a recent court ruling that favored Ripple by dismissing some of the U.S. Securities Exchange Commission’s (SEC) claims against XRP’s classification as a security, mainstream exchanges started relisting XRP.

Seizing on the growing enthusiasm for XRP, BIT crypto exchange seized the opportunity by launching options trading for the cryptocurrency as well. This move empowers XRP holders and investors with an additional avenue to manage and mitigate risks within their portfolios.