At this level, it may be honestly mentioned that crypto has now made its approach into the mainstream. Bitcoin which used to solely exist on a small a part of the web is now some of the common funding property. Because the years have passed by, different cryptocurrencies apart from bitcoin have made their strategy to the forefront. A latest examine encompasses simply how common these altcoins have gotten in locations comparable to South Korea with its findings.
Ripple Tops Crypto Listing
The study which was carried out by varied main crypto exchanges in South Korea has revealed the cryptocurrencies that residents are largely invested in. This examine printed its findings primarily based on the greenback worth of digital property held by locals.
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Bitcoin, evidently, got here out on prime as the preferred crypto amongst South Korean buyers. These buyers have been discovered to carry greater than $5 billion value of bitcoin, a complete of 128,828 BTC. Nevertheless, the shocker right here could be the cryptocurrency that made 2nd place on the listing. Ripple (XRP) got here a detailed second with locals reportedly holding nearly $4.8 billion value of XRP tokens.
XRP buying and selling at $0.68 | Supply: XRPUSD on TradingView.com
The altcoin had beat out the second-largest digital asset Ethereum by about $300 million at round $4.5 billion value of ETH held by buyers. Ethereum’s competitor Cardano positioned 4th on this listing with about $1 billion held by buyers. Whereas beloved meme coin Dogecoin positioned fifth on the listing with buyers holding roughly $900 million in DOGE alone.
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The examine was aggregated throughout the highest 4 exchanges within the area specifically Bithumb, Coinone, Upbeat, and Korbit. It additionally discovered that buyers had traded greater than $7 trillion in cryptocurrencies alone in 2021, which means that crypto actions within the area have been larger in comparison with the Korean inventory market. It additionally surpassed the buying and selling quantity on the junior Kosdaq.
The quantity of bitcoin held by South Korean buyers surpassed what they owned of Apple shares at $5.48 billion however got here out lower than what they held in Tesla shares, which at present sits at a powerful $16.9 billion value of shares.
Featured picture from Monetary TImes, chart from TradingView.com