Bitcoin Exhibits Kimchi Premium in South Korean Market.

Bitcoin Exhibits Kimchi Premium in South Korean Market.

user avatar

by David Robinson

9 months ago

Made with AI

Bitcoin continues to show significant price variations across different exchanges, highlighting the ongoing phenomenon known as the 'kimchi premium' in South Korea. As of January 18, the cryptocurrency was trading at a notable price on Upbit, reflecting local market dynamics. Based on the data provided in the document, these discrepancies can be attributed to various factors including demand and regulatory influences.

Bitcoin Price Discrepancy on South Korean Exchanges

On January 18, Bitcoin was priced at 14,081 million KRW on Upbit, which is 0.11 million KRW higher than its price on Binance, where it stood at 14,068 million KRW. This price discrepancy underscores the strong local demand for Bitcoin in South Korea, influenced by various market conditions.

Premiums on Other Cryptocurrencies

In addition to Bitcoin, other cryptocurrencies have also experienced similar premiums on South Korean exchanges. These include:

  • Ethereum
  • Solana
  • XRP

This trend suggests that investors in the region are willing to pay a higher price for these digital assets, further emphasizing the unique characteristics of the South Korean crypto market.

The Digital Asset Exchange Alliance (DAXA) previously expressed strong opposition to proposed shareholder stake limits in South Korea's cryptocurrency exchanges, raising concerns about the market's future. For more details, see DAXA's concerns.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Central Bank of Ireland Imposes Fine on Coinbase Ireland Limited

On October 22, 2023, the Central Bank of Ireland fined Coinbase Ireland Limited 3,252,618 euros for breaches of safeguarding and outsourcing obligations.

user avatarNguyen Van Long

HashKey RWA Introduces First Product in hToken Series

HashKey RWA has launched its first product in the hToken series, aimed at standardizing the issuance of tokenized securities for traditional financial institutions.

user avatarSatoshi Nakamura

Coinbase Announces Discontinuation of GYEN Stablecoin Support

Coinbase has announced the discontinuation of support for the yen-linked GYEN stablecoin as its issuer, GMOZcom Trust Company, retires the product.

user avatarJesper Sørensen

Hong Kong Approves Secondary Trading for Tokenized Money Market Funds

Hong Kong Securities and Futures Commission approves secondary trading for two tokenized money market funds, enhancing trading opportunities and liquidity.

user avatarRajesh Kumar

Bitmine Immersion Technologies Reports Significant Ethereum Holdings

Bitmine Immersion Technologies has filed an update with the SEC revealing significant Ethereum holdings of approximately 605 million ETH and total investments around $15 billion.

user avatarLucas Weissmann

Stellar's Bell Upgrade Introduces Key Infrastructure Enhancements

Stellar's Bell upgrade introduces significant infrastructure improvements, including muxed contract addresses and support for post-quantum signature verification.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.