Koreans Flock To These Altcoins Since The Beginning Of 2023: BTC And ETH Not On The List!

South Korea is the world’s most active cryptocurrency one of its markets, but its preferences are different from other regions.

According to data released by leading digital asset data provider Kaiko, South Koreans are turning to other altcoins instead of Bitcoin and Ethereum.

Kaiko analyzed the market share of altcoin volume on the four major Korean exchanges listed as Korbit, Upbit, Bithumb and Coinone.

XRP Becomes the Altcoin with the Most Transaction Volume on Korean Exchanges

Data in 2023 Ripple’s (XRP) It shows that it is the most traded token on these platforms, accounting for 12% of the cumulative trading volume.

This with 4% Dogecoin (DOGE) and each with 2% Sandbox (SAND), Ethereum Classic (ETC), Arbitrum (ARB), Aptos (APT), Waves (WAVES), ICON (ICX), MiL.k (MLK), Swipe (SXP), Loom Network (LOOM), Gas (GAS), Augur (REP), Decentraland (MANA), Neo (NEO), Threshold (T), Axie Infinity (AXS) And Serum (SRM) following.

The remaining tokens have less than 2% market share.

Kaiko’s report concludes that South Korea is a unique and influential market for cryptocurrency trading, and altcoin preferences reflect an appetite for innovation and risk taking. Kaiko provides historical and real-time data feeds covering over 210,000 spot, futures and options instruments for over 100 spot and derivatives exchanges.

*Not investment advice.