Bitcoin Retains Top Spot Among South Korean Investors

A recent survey by News1 indicates that South Korean cryptocurrency investors have again shown a strong preference for Bitcoin, which remains the most preferred digital asset, with Ripple (XRP) now in second place, surpassing Ethereum (ETH).

The survey was conducted on the blockchain-based voting platform, The POL, from December 24 to December 26, 2024. It gathered insights from 5,225 investors regarding their preferences among the top 10 cryptocurrencies in South Korea based on market capitalization data from the Financial Intelligence Unit (FIU).

Bitcoin continues to maintain its top spot, driven by increased institutional adoption and the approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. Ripple’s second-place finish highlights its deep-rooted appeal in South Korea, a trend dating back to 2017 when it was dubbed the “favourite coin” among domestic investors. Ethereum ranked third, followed by Dogecoin and Bitcoin Cash. Notably, Bitcoin Cash has gained more popularity domestically than global assets such as Solana and Cardano, reflecting strong local interest.

Despite facing challenges such as a lawsuit with the U.S. Securities and Exchange Commission (SEC), Ripple experienced a significant resurgence in 2024. After the departure of SEC Chairman Gary Gensler, Ripple’s value surged by 400% at its peak, solidifying its status as a “beneficiary coin,” according to the report.

This development comes as South Korea aims to stabilize its financial markets amid ongoing political unrest. Eun-bo Jeong, Chairman of the South Korean Exchange, announced plans to explore cryptocurrency exchange-traded funds (ETFs) to attract investors back into the market. At the 2025 Securities and Derivatives Market Opening Ceremony on January 2, Jeong highlighted alternative assets, such as crypto ETFs, as crucial for revitalizing the market. He pointed out the recent stock sell-off, influenced by political instability. He suggested looking at global examples to diversify the economy and attract local and foreign investors.

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