Kimchi Premium Soars to 4.1%

IconCryptoNewsTerminal Staff02 Aug, 2024

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Kimchi Premium Soars to 4.1%

South Korean exchanges are currently experiencing a high demand for Bitcoin (BTC), as evidenced by the widening kimchi premium. The kimchi premium is the price difference between BTC on South Korean exchanges and global exchanges. Recently, the kimchi premium hit 4.1%, indicating a significant premium for BTC in South Korea. The high kimchi premium suggests that there is a strong demand for BTC in South Korea. This demand could be attributed to several factors, including the increasing popularity of cryptocurrency trading in South Korea and the anticipation of a potential bull run in the crypto market.