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Bitcoin More Expensive in South Korea as 'Kimchi Premium' Reaches Highest in 3 Years
Bitcoin is trading at significantly higher prices in South Korea due to the 'Kimchi Premium' – the price difference of Bitcoin between the South Korean market and the world – which recently hit a 3-year high, according to data from CryptoQuant.
📈 What is Kimchi Premium? Why is it Increasing?
“
” is the phenomenon where Bitcoin is priced higher on South Korean exchanges compared to international exchanges. This phenomenon occurs due to:
✅ Strict capital controls: South Korea restricts the flow of money in and out of the country, making trading Bitcoin with Korean won (
📈 What is Kimchi Premium? Why is it Increasing?
“
” is the phenomenon where Bitcoin is priced higher on South Korean exchanges compared to international exchanges. This phenomenon occurs due to:
✅ Strict capital controls: South Korea restricts the flow of money in and out of the country, making trading Bitcoin with Korean won (
The South Korean won (KRW) has declined to its lowest level against the U.S. dollar (USD) in over 15 years
Traders on Upbit are buying $BTC and $USDT at a 3-5% premium.
#SouthKorea #KRW
Traders on Upbit are buying $BTC and $USDT at a 3-5% premium.
#SouthKorea #KRW
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