After Donald Trump won the US elections, the Bitcoin and cryptocurrency markets became active.
Although BTC has fallen in recent days, the price has held up to the $100,000 limit. With the rise in BTC, altcoins have also made significant gains and have faced great interest from South Korean investors.
According to a report by Matrixport, South Korean investors have recently shown more interest in altcoins rather than Bitcoin and Ethereum.
At this point, some altcoins are leaving BTC and ETH behind in South Korea’s cryptocurrency market.
Matrixport revealed in its latest report that in South Korea, one of the world’s most active cryptocurrency markets, Bitcoin and Ethereum trading volumes ranked only sixth and twelfth, respectively, in the last 24 hours.
Analysts added that the trading volumes of altcoins such as Ripple (XRP), Stellar (XLM), Sandbox (SAND), and Dogecoin (DOGE) on South Korean exchanges have significantly exceeded and surpassed BTC and ETH.
According to Matrixport analysts, this shows that retail investors prefer altcoins with higher growth potential and are looking for higher returns.
Looking at the data of Upbit, South Korea’s largest cryptocurrency exchange, it was seen that XRP, XLM and DOGE ranked first three in transaction volume.
*This is not investment advice.
