South Korea’s Bitcoin “Kimchi Premium” recently fell below 1% and then rebounded, which may indicate growing demand
2024-06-10 00:15
Odaily News Recently, the Korean Bitcoin "Kimchi Premium" fell below 1% after approaching 10% in mid-April, and the premium is now rebounding. CryptoQuant data shows that after hitting a low of 0.62% on June 4 (when the global price was almost the same), the premium climbed to 3.42% as of June 6. Analysis points out that typically, this indicates growing demand in South Korea, which may push up the price of Bitcoin in the short term. In addition, archived data from CoinMarketCap on June 9 showed that the global trading price of Bitcoin was $69,288, while on Upbit, the price of Bitcoin was $71,130, 2.658% higher. Similar premiums were also seen on Bithumb, Coinone and Korbit. Ethereum's premium is also 2.69%, with a global price of $3,679 and a price of $3,778 on Upbit and other platforms. (Bitcoin.com)
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