Bitcoin and Altcoins Experience High Kimchi Premiums in South Korea

by Kenji Takahashi

2 hours ago

Bitcoin continues to show a notable price disparity in South Korea, reflecting the unique dynamics of the local cryptocurrency market. As of December 21, 2023, the kimchi premium highlights the growing interest among South Korean investors, which is further illustrated by the trends outlined in the document.

Current Bitcoin Trading Price

Currently, Bitcoin is trading at 13,129 million KRW on Upbit, which is 0.87% higher than its price of 13,016 million KRW on Binance, a leading global exchange. This difference underscores the persistent demand for Bitcoin in South Korea, often referred to as the 'kimchi premium.'

Altcoin Market Trends

In addition to Bitcoin,

Ethereum
several other major altcoins

are also witnessing significant price premiums in the South Korean market. This trend suggests that local investors are actively seeking opportunities in the cryptocurrency space, potentially driven by market sentiment and regional economic factors.

Earlier today, Avalanche and BNB made significant advancements in their market positions, showcasing their growing utility in the cryptocurrency sector. For more details, see the full report here.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Self-Employed Professionals Gain Access to Affordable Health Coverage

Self-employed individuals, including freelancers and independent contractors, can now secure affordable health coverage through the ACA Marketplace.

Maria Gutierrez13 minutes ago

Federal Reserve Proposes Skinny Master Accounts for Limited Access to Payment System

The Federal Reserve has initiated a public consultation on a proposal for a new payment account aimed at certain financial institutions.

Jacob Williams17 minutes ago

Zcash Surges 13% as It Tests Key Resistance Levels

Zcash has gained 13% in the last 24 hours, trading near $438, as it tests critical resistance levels that could lead to further gains.

David Robinson17 minutes ago

XRP Wealth Distribution Insights Revealed

Levi Rietveld from Crypto Crusaders shares insights on XRP wealth distribution, detailing the requirements to be in the top percentiles of holders.

Andrew Smith17 minutes ago

Xenea Wallet Launches Daily Quiz for Token Incentives.

Xenea Wallet has launched a Daily Quiz feature that allows users to earn free GEMS convertible into XENE tokens by answering questions related to blockchain, DAOs, and Web3 concepts.