• My Nearest City

Japanese Crypto Holders Prefer XRP Over ETH

BitMax Survey Shows Japanese Crypto Holders Prefer XRP Over ETH

BitMax Survey Shows Japanese Crypto Holders Prefer XRP Over ETH

BitMax Survey Shows Japanese Crypto Holders Prefer XRP Over ETH

Survey: Japanese Crypto Holders Prefer XRP Over ETH

In a recent survey by BitMax which is a Japanese crypto exchange, it came out that Japanese crypto holders prefer XRP over ETH.

This survey seems to be a quite surprising one because as per the market cap, ETH is the second-largest cryptocurrency and one of the most popular ones still, users in Japan are preferred XRP over it. It has been shown that there are 25% of traders who prefer XRP while only 9% are interested in ETH which is quite less than XRP.

It’s worth noting that the small sample size like that in the aforementioned survey may not necessarily may not make the results definitive. 

However, the Japan Virtual Currency Exchange Association (JVCEA) reported similar findings in December 2019.

XRP was second behind BTC among the number of yen denominated digital asset holdings, with ETH also in third.

As this survey clearly shows that Japanese users prefer XRP over ETH, it also indicated that BTC is also equally popular in Japan. BitMax posted this survey on Twitter on June 12, which shows that 26% of people prefer Bitcoin which is nearly equal to XRP.

This survey was done with less than 1500 people but the same findings have been noticed earlier also which were revealed by Japan Virtual Currency Exchange Association (JVCEA).

This survey by JVCEA was done back in December 2019 and during that time also BTC was again on top while XRP was behind BTC and ETH came third.

Online engagement for XRP fell in 2020

Cointelegraph reported in April that online engagement towards XRP on Twitter fell in Q1 2020, while Ripple was forced to liquidate many of its holdings to stay cash flow positive. Crypto analytics firm Messari released data showing XRP was the worst performing large cap token in 2019.

The XRP token — $0.19 at the time of writing — is worth a fraction of its $2.28 peak at the end of 2017. While the XRP army may have shrunk overall, this may not be the case for Japanese fans of the token.

Also Read