According to the survey, Japanese investors prefer Bitcoin and Ripple to Ethereum

A recent survey compiled by the cryptocurrency exchange BitMax shows that the Japanese are very fond of Ripple (XRP). Most participants had to decide what their preferred digital asset is and placed XRP close to Bitcoin and well above Ethereum.

Japan loves waves (XRP)

The popular Japanese exchange published the poll on Twitter to see which cryptocurrencies are most preferred among its followers.

BitMax Cryptocurrency Survey. Source: BitMax

Somewhat as expected, the largest cryptocurrency by market capitalization Bitcoin (in yellow) took first place with 26% of the votes. Perhaps what is more fascinating is that Ripple (XRP – in pink) comes very close at 25%. The now quadruple digital asset based on market capitalization has massively overcome Ethereum (in red). Only 9% of all participants voted for ETH.

As the graph above shows, the remaining 40% of the votes were split between other popular altcoins. These include the dual-layer blockchain project written in Java – NEM (XEM), one of the first Japanese coins to be delivered as a hard fork by Litecoin – MonaCoin (Mona), and Nano – formerly known as RaiBlocks (XRB), that uses its own technology called block lattice architecture.

It should be noted, however, that the number of participants was relatively small at around 1,500, which could mean that the survey was not complete.

There’s a lot going on for XRP

Ripple, the payment protocol and the company behind the cryptocurrency XRP, has recently expanded its services. In Thailand alone, the company signed two partnerships with a local fintech company called DeeMoney and with the country’s oldest bank – Siam Commercial Bank (SCB).

The bank has created an application called SCB EASY for cross-border payments, while the fintech company will use RippleNet for more efficient, cheaper and faster international money transfers.

The RippleNet Cloud, with which banks can fully use Ripple technology in the cloud, announced yesterday the signing of their first bank customer – the Brazilian Banco Rendimento.

However, the price tag for Ripple’s native cryptocurrency wasn’t as impressive as it was for the company behind it. XRP, like most digital assets, fell during the mid-March sell-offs, bottoming below $ 0.11. Although it has bounced back somewhat since then, and is currently trading at $ 0.192, it also recently posted its two-year low against its primary cryptocurrency – Bitcoin.

XRPUSD 4h.  Source: TradingViewXRPUSD 4h. Source: TradingView

The lack of any serious upward movement and the fact that Tether (USDT) continues to mint new coins to meet trader demand resulted in a position change in May. As mentioned above, XRP is the fourth largest crypto in terms of market cap as Tether outperformed it.

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