Bitcoin (BTC) Kimchi Premium Hits 1.9%

IconCryptoNewsTerminal Staff19 Aug, 2024

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Bitcoin (BTC) Kimchi Premium Hits 1.9%

The Bitcoin Kimchi Premium has hit 1.9%, indicating a spread between the price of Bitcoin on domestic South Korean exchanges and international exchanges. The current premium is driven by increased demand for Bitcoin in South Korea, potentially due to factors such as regulatory uncertainty and geopolitical tensions. Exchange Rates: Upbit: 83,313,000 KRW Binance: 81,721,927 KRW * Difference: 1,591,073 KRW This premium suggests that there is a higher demand for Bitcoin in South Korea compared to other regions, leading to a higher price. The premium has fluctuated in recent months, but it remains elevated, indicating a strong appetite for Bitcoin in South Korea.