Kimchi Premium Hits 8.1%

Kimchi Premium Hits 8.1%

Kimchi Premium Hits 8.1% The Kimchi premium, the difference between the price of Bitcoin (BTC) on South Korean exchanges and its price on global exchanges, has hit 8.1%. This means that BTC is trading for around 5% more on South Korean exchanges than it is on global exchanges. The largest South Korean exchange, Upbit, is currently trading BTC at 78,178,000 won, while Binance, the largest global exchange, is trading BTC at 72,312,101 won. This represents a difference of 5,865,899 won. There are a number of factors that can contribute to the Kimchi premium, including: Increased demand for BTC in South Korea: South Korea has a large and active crypto market, and demand for BTC is often higher than in other countries. Regulatory uncertainty: The South Korean government has been cracking down on crypto exchanges in recent months, which has led to some investors moving their BTC to South Korean exchanges. * Limited access to global exchanges: Some South Korean investors do not have access to global exchanges, which can also lead to increased demand for BTC on South Korean exchanges. The Kimchi premium is a reflection of the strong demand for BTC in South Korea. It is also a sign that the South Korean crypto market is still maturing. As the market develops, it is likely that the Kimchi premium will decrease.