South Korean cryptocurrency investors prefer to invest in altcoins instead of cryptocurrencies such as Bitcoin and Ethereum.
According to the research conducted by DeSpread Research, investors in South Korea are big coins prefers smaller altcoins instead:
“The majority of retail investors on Upbit have a keen interest in altcoins with high return potential and accept the risks that come with this. “This is one of the reasons for the large share of altcoin trading in the Korean market.”
The majority of cryptocurrency exchanges around the world have been experiencing a decline in volume since the beginning of the year. However, according to the report, Upbit, the country’s largest cryptocurrency exchange, especially Ripple’s victory against the US Securities and Exchange Commission (SEC) followed by an increase in volume.
In terms of their contribution to global transaction volume, Korean investors are particularly LOOM, XEC, FLOW, STX, BSV, KAVA, ZIL, KLAY, CRO And IOTA They show interest in altcoins such as.
Although the transaction volumes of Bitcoin and Ethereum are large on global exchanges, their volume on Korean exchanges remains small compared to the general.
According to a survey conducted by the Korean Financial Intelligence Unit, the population in the country will be 6 million cryptocurrency investors, accounting for more than 10% is available.