Investors In This Country Prefer Altcoins And Tron Over Bitcoin, Ethereum: Here's Why
Portfolio Pulse from Murtuza Merchant
In South Korea, altcoins and the Tron network are preferred over Bitcoin and Ethereum for deposits and withdrawals, according to DeSpread Research. This trend is driven by centralized exchanges like Upbit, which accounts for about 80% of the Korean crypto exchange market. Upbit users also prefer Tron over Ethereum due to lower fees and faster transaction processing. Daily transactions via the Tron network reach up to 2 million, compared to Ethereum's roughly 100,000 transactions.
October 27, 2023 | 1:49 pm
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POSITIVE IMPACT
Tron is preferred by South Korean investors due to higher trading volumes and faster transaction processing on Upbit.
The article mentions that Tron has higher trading volumes and faster transaction processing on Upbit compared to Ethereum. This suggests that Tron is more preferred by South Korean investors, which could potentially boost its price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Tether is likely neutral in the South Korean market as the article does not provide specific information about its trading volumes or transaction processing speed on Upbit.
The article does not provide specific information about Tether's trading volumes or transaction processing speed on Upbit. Therefore, it's difficult to determine its preference among South Korean investors based on the article.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Bitcoin is less preferred by South Korean investors due to lower trading volumes on Upbit.
The article mentions that Bitcoin has surprisingly low trading volumes on Upbit, a major South Korean exchange. This suggests that Bitcoin is less preferred by South Korean investors, which could potentially impact its price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ethereum is less preferred by South Korean investors due to lower trading volumes and slower transaction processing on Upbit.
The article mentions that Ethereum has lower trading volumes on Upbit and slower transaction processing compared to Tron. This suggests that Ethereum is less preferred by South Korean investors, which could potentially impact its price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70