A recent poll indicates that although Bitcoin continues to be the top choice for crypto investors in South Korea, Ripple has now overtaken Ethereum in terms of popularity.

Bitcoin (BTC) remains the most favored cryptocurrency for investors in South Korea, whereas XRP (XRP) has risen to take the second spot, surpassing Ethereum (ETH), as revealed by a survey conducted by News1, a Korean news outlet.

Conducted between December 24 and December 26, 2024, the survey questioned over 5,220 investors about their preferred cryptocurrencies, focusing on the top 10 digital assets by market capitalization in South Korea. The findings revealed that Bitcoin topped the list, followed by XRP in second place and Ethereum in third.

Bitcoin has long held its position as the dominant cryptocurrency. Ripple has also enjoyed significant popularity among South Korean investors, being referred to as the “favorite coin” since 2017, even amidst challenges such as its legal battle with the U.S. Securities and Exchange Commission. Ripple managed to sustain robust support, evidenced by a remarkable 400% price surge in 2024.

In related news, Ki Young Ju, the CEO of CryptoQuant, voiced serious concerns regarding the current state of the Korean economy, criticizing the government’s economic strategies, particularly highlighting the appreciating value of the Korean Won and the decreased appeal of local assets.

Ju further noted that the value of Tether’s (USDT) on Upbit, a leading South Korean exchange, had aligned with the IMF rate, which could signify troubling times ahead for South Korea, particularly in the cryptocurrency sector.