South Korean investors choose XRP over Bitcoin as political crisis deepens

The looming impeachment of President Yoon Suk Yeol is roiling South Korea's crypto market.

XRP generated four times more trading volume than Bitcoin on Tuesday.

'Yay for arbitrage,' says a South Korean crypto founder.

Whenever a country is engulfed by a crisis that punishes its fiat currency, households and businesses tend to flock to Bitcoin and Tether’s USDT to safeguard their wealth.

Not South Korea.

Even as citizens take to the streets and call for president Yoon Suk Yeol’s ouster, crypto traders are piling into XRP over Bitcoin and other assets.

“In the past 24 hours, XRP has generated four times more trading volume than BTC on Upbit, Korea’s largest crypto exchange,” Zhong Yang Chan, head of research at CoinGecko, told DL News.