South Korea's 'Kimchi premium' is back: Is the Bitcoin rally starting to heat...
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....
Related News
Is a surging premium in South Korea a top signal or a sign that the Bitcoin rally is only getting started? The price of Bitcoin (BTC) is continuing to range between $56,000 and $60,000, as the so-called "Kimchi premium" is surging to yearly highs.Kimchi premium forms when Bitcoin is trading at a higher price in South Korea over other major markets like the United States.In 2017, the Kimchi premium surpassed 20%, causing Bitcoin to trade at around $24,000 in South Korea while it topped at nearly $20,000 in the U.S.Korea Premium Index. Source: CryptoQuant.comLast week, on March 29, this....
South Korea's Kimchi premium collapsed overnight, but it is likely not a sign of a short-term Bitcoin top. The so-called Kimchi premium, which measures the premium of the Bitcoin (BTC) price in South Korea's cryptocurrency exchange market, plummeted overnight.The premium declined from 22% to 15% within a matter of hours on April 7, and it is continuing to drop across major South Korean exchanges.BTC Korea Premium index. Source CryptoQuantA big pullback in South Korea's Bitcoin marketOvernight, as CryptoQuant CEO Ki Young Ju noted, the price of Bitcoin fell particularly hard on South Korean....
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....
While a great number of spot exchanges have seen consistent prices in a few select areas in the world, bitcoin is selling for a premium. That’s the case in South Korea right now as there’s a price gap, otherwise known as the ‘kimchi premium’ on domestic South Korean exchanges in comparison to foreign exchanges. Bitcoin, Ethereum, and Bitcoin Cash See Premiums in South Korea Bitcoin prices on domestic South Korean crypto trading platforms are much higher than they are across a majority of exchanges worldwide. For instance, on Tuesday morning (EST) the price per....
The famous gap in cryptocurrency prices in South Korean crypto exchanges and overseas ones known as “kimchi premium” raises some concerns among the nation’s government. The latest reports suggest that the country is planning to regulate international remittances tied to kimchi premium-driven transactions. Remittances to Exploit Kimchi Premium Could Be Flagged as Money Laundering According to Maeil Kyungjae, South Korea’s government has found that some domestic investors actively send their fiat abroad to buy crypto from sellers in China. The maneuver allows these....