South Korean Gen Z cryptocurrency investors are reportedly more keen on investing in altcoins, specifically Ripple (XRP) than Bitcoin (BTC) and Ether (ETH), according to local South Korean news outlets.
Korean news 1 analyzed Investment data from cryptocurrency exchange Bithumb for the first half of the year, with a particular focus on investment propensity by age group. Investors in their twenties show a more “aggressive” investment orientation than investors in other age groups, the study found.
Additionally, Gen Z investors are more invested in altcoins than BTC and ETH, which are categorized as “long-term” and “stable” investments in the study due to their relatively low volatility.
According to the report, 82.5% of investors in their 20s have invested in altcoins, excluding ETH. XPR is the most chosen by Gen Z investors, with 20.7% holding the digital asset.
An Aug. 4 report from crypto derivatives exchange Bitget said Gen Z make up nearly half of crypto copy traders.
On the other hand, the South Korean study found that the age group with the highest proportion of BTC and ETH investments are investors in their 30s.
The statistics come as Ripple continues to face scrutiny and lawsuits from U.S. regulators. The current state of altcoins in the U.S. keeps them from being adopted for three years, one legal expert estimates.
related: XRP is not a security.Period” – Crypto Lawyer Takes on Ripple Case in SEC Appeal
South Korea has recently been cracking down on cryptocurrency activity in the country. On Aug. 22, news broke that authorities in Cheongju city planned to confiscate the cryptocurrencies of thousands of users who had successfully evaded taxes.
The CEO of cryptocurrency exchange Bitsonic was arrested by South Korean authorities on Aug. 9 for allegedly stealing $7.5 million in user funds and will stand trial without preliminary detention.
Previously, on July 26, the country strengthened cryptocurrency regulation by establishing an interagency investigation unit aimed at combating cryptocurrency-related crimes, citing the increase in illegal activities in the cryptocurrency market and the need to protect investors.
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