Saturday, June 19, 2021
Home Crypto News Analysis Messari Report Shows Investors In South Korea Prefer XRP Instead Of Ethereum

Messari Report Shows Investors In South Korea Prefer XRP Instead Of Ethereum

- Advertisement -

According to the cryptocurrency report published by Messari, investors in South Korea prefer to trade XRP instead of Ethereum.

XRP has the most trading volume in Korean after Bitcoin, where the DeFi market is less popular compared to Western countries.

Messari’s, Mira Christanto has prepared a report on the cryptocurrency market in Southeast Asia. The report, which examined China, South Korea, Japan and several different countries, found a significant volume difference between some cryptocurrencies.

It is believed that three out of every ten people working in South Korea invest in cryptocurrencies. This popularity led to the emergence of giants crypto exchanges such as Bithumb, Upbit, Korbit and Coinone.

Each of the four exchanges holds at least $10 million in digital assets. This drives them to make statements about the assets they own. Based on these statements, Christanto identified the most popular cryptocurrencies in Korea.

cryptocurrency report published by Messari


The most popular cryptocurrency among South Korean investors was Bitcoin, followed by XRP. This is because people are not turning to Ethereum and DeFi tokens.

Strong XRP Demand In Japan

Japan, which has hosted many hacking attacks, including MT Gox, has strict regulations on cryptocurrencies. There are 26 exchanges in the country that have managed to obtain licenses, but they cannot list USDT, one of the most popular cryptocurrencies in the world.

It is believed that individual investors in the country therefore turn to platform based projects like XRP.

The attitude of companies such as SBI Group in Japan towards XRP is positive. SBI, which partnered with Ripple in 2017, plans to create a new cryptocurrency fund, 50 percent of which will consist of XRP.

The SBI is known to support Ripple in the U.S SEC case. Christanto says companies in Japan “rely on and prefer centralized systems.”

XRP Strengthening in Malaysia and the Philippines

80 percent of the population of the Philippines has necessary facilities, but don’t have a bank account.

According to Messari’s study, between 80 percent and 85 percent of the country’s cryptocurrency volume is provided by financial companies dealing in cryptocurrencies. The most popular pair in the country after the BTC-PHP (Philippine Peso) is XRP-PHP.

In Malaysia, cryptrocurencies encounter tougher regulations. Malaysia’s regulator, SCM, does not recognize cryptocurrencies as legal means of payment, does not allow derivatives trading in the country, and only allows the listing of self-approved cryptocurrencies. SCM’s shows green light on Bitcoin, Ethereum and XRP.

- Advertisement -
Albert Brown
Albert Brown has obtained his master's degree in Stock Trading And Investing. His specialty is analyzing the price actions of crypto and stock markets. Albert provides a major role in TheCryptoBasic as a crypto analyst. He is also known for his work on Twinkle Magazine and TipRanks.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Report: Bitcoin Whales Holdings Are Rising As BTC Whales Are Buying The Dip And Not Selling

Santiment on-chain data analytic firm reports that Bitcoin whales are still buying the dip and not selling their BTC holdings. They are taking advantage...

Weiss Ratings Shows Cardano, Polkadot, Cosmos, Atom, And Fantom Technologies Are Superior Than Ethereum

Global ranking firm Weiss has released a report showing five altcoin with technology superior to the world's second-largest coin, Ethereum. ...

In A Recent 5 Hour Interview With Lex Fridman, Charles Hoskinson Said Cardano Is Far Better Than Bitcoin And Ethereum

In a latest interview with well-known You tuber Lex Fridman (Video Below With Timeline) Charles Hoskinson said that Cardano (ADA) is better than Bitcoin,...

Grayscale Assets Under Consideration List Move To A Total Of 31, Adding 13 New Coins Today

Grayscale seeks to increase its assets under management with the asset manager taking a key interest in DeFi focused crypto-assets according to the latest...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly