Crypto Investor Gen Z In South Korea More Interested In Altcoin XRP Than Bitcoin And Ether

Gen Z in South Korea is more interested in investing in XRP. (photo: dock. Coinscreened)

Generation Z crypto investors in South Korea are reportedly more interested in investing in altcoins, particularly Ripple's XRPs, than Bitcoin and Ether, South Korea's local news media reported.

News1 Korea analyzed investment data from the Bithumb crypto exchange during the first half of this year, focusing specifically on an investment trend of age. They found that investors at the age of two showed a more "aggressive" investment trend compared to other age groups.

Generation Z investors show a higher investment proportion in altcoins than in BTC and ETH, which in this study are classified as "long-term" and "stable" investments due to their relatively low volatility.

According to the report, 82.5% of investors at the age of two are investing in altcoins, except for ETH. XRP is the most selected by Generation Z investors, with 20.7% holding these digital assets.

A report from the Bitget crypto derivative exchange on August 4 stated that Generation Z formed nearly half of traders who imitated other traders' strategies in crypto.

On the other hand, research in South Korea found that the age group with the highest percentage investment in BTC and ETH was investors at the age of thirty.

This statistic comes as Ripple continues to face scrutiny and lawsuits from regulators in the United States. A legal expert predicts that in the United States, conditions surrounding this altcoin have hampered adoption for three years.

South Korea has recently intensified surveillance of crypto activity in the country. On August 22, news emerged that authorities in the city of Cheongju plan to confiscate crypto from thousands of users who have managed to evade local taxes.

On August 9, the CEO of the Bitsonic crypto exchange was arrested by South Korean authorities for alleged theft of USD 7.5 million (IDR 113.3 billion) of user funds and will be tried without temporary detention.

Prior to that, on July 26, the country strengthened crypto regulation by creating cross-institutional investigative units aimed at fighting crypto-related crime, given the increased illegal activity in the crypto market and the need for protection for investors.