Why South Korea is Second Largest Ethereum Market, 17% of All Trading
Over the past few weeks, Ethereum has experienced a truly exponential growth in terms of market cap and development community, reaching a market cap of $4.37 bln. According to various sources and market data, the South Korean exchange market has accounted for 17 percent of global Ethereum trading. Companies within the South Korean digital currency and Blockchain industries are rapidly expanding their consumer base across the country. Interestingly, the majority of clients of Blockchain and digital currency-based startups in South Korea are composed of government-funded organizations, major....
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Demand for Bitcoin in South Korea is heating up as the country's BTC premium rises over 5%. The "Kimchi premium" is back. Bitcoin (BTC) is trading more than 6% higher across major South Korean crypto exchanges as of March 29.Data from CryptoQuant shows that the premium in the South Korean market was nonexistent for many months and, in fact, dropped to around -6% in early February when BTC dipped below $30,000.The so-called Kimchi premium forms when the price of Bitcoin trades higher on South Korean exchanges than other markets.The return of this premium is a bullish sign suggesting that....
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South Korea is known to host significant crypto trading activity. South Koreans were among the major players during the 2017 crypto boom. The country accounts for less than 1% of the world’s population. But they were behind 30% of the crypto trading volume that year. This was according to estimates by fintech company Cindicator at […]