Crypto Traders On Edge As Korea Stalls Key Law — Is The “Kimchi Premium” At R...
The National Policy Committee of Korea pushed the “second‑phase” crypto act debate until after the June 3 local elections. Crypto Framework Postponed In A Time Of Need The Korean outlet Maeil Business Newspaper reported uncertainty in the crypto industry deepening after the National Policy Committee excluded the Framework Act on Digital Assets from the 31st […]
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The so-called “Kimchi premium,” or bitcoin price difference in South Korea, has hit 15 percent.
Bitcoin is trading at 12.5% higher in South Korea than in other markets, while gold prices climb to quarterly highs. Bitcoin (BTC) was trading at $5,000 higher in South Korea than in other markets on Wednesday as capital flow controls continue to enforce the “kimchi premium.” While Bitcoin was trading at $39,932 on Coinbase at the time of publication, the price on the Korea-based Bithumb exchange stood at $45,115.According to a recent Bank of America statement, the kimchi premium is a result of capital flow controls aimed at stopping the cross-border transfer of “hot money,” reports....
The price of Ethereum appears to be recovering nicely over the weekend after a period of investor uncertainty. The “king of altcoins”, following what looked like an aggressive return above the $4,200 level earlier this week, is now lagging under the psychological $4,000 mark. While the Ethereum price has been building some positive momentum over the past day, the shadows of the October 10 downturn still seem to be weighing on investor sentiment. A market phenomenon known as the “Kimchi Premium” suggests a few tedious weeks ahead for the second-largest cryptocurrency. What Happened Last....
Bitcoin's price premiums on South Korean exchanges have returned amid the latest bitcoin bull market.
During the first week of April, South Korea’s ‘kimchi premium’ on domestic cryptocurrency exchanges had jumped over 18%, but then leveled off, equalizing with global exchange rates over the last two weeks. On Monday, as bitcoin prices spiked 8% higher surpassing the $54k zone, in South Korea, the premium on bitcoin climbed 4.56% higher than the most trading platforms worldwide during the last 24 hours. ‘Kimchi Premium’ on Domestic South Korean Exchanges Starts to Rise Again Bitcoin (BTC) and cryptocurrency markets have improved on Monday as the entire....