“What is your favourite coin?” Japanese crypto holders say XRP

Japanese crypto holders prefer to hold XRP, according to the results of a survey on their favourite coin posted to Twitter by Japanese cryptocurrency exchange BITMAX on 12 June.

Bitcoin (BTC) is nearly as popular as the XRP token among traders in Japan and Ether is currently the second largest cryptocurrency by market cap. Still, 25% of the 1,498 people surveyed told BITMAX XRP was their favorite coin, compared to 26% who preferred BTC. Ethereum (ETH) came in third at 9%.

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.

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.

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