Since late October, the BTC discount on Korean crypto exchanges has turned into a premium, with a premium of 2.21% at one point.

Odaily News From October 12 to October 20, 2024, CryptoQuant data shows that BTC in South Korea was trading below the global average. But after the 20th, the price turned to a premium, reaching 2.21% by October 24. By Halloween (October 31, the 16th anniversary of the birth of the Bitcoin white paper), the premium on Korean exchanges reached 1.93%. For many years, BTC in South Korea has generally traded at a higher price compared to the global market, known as the "Kimchi Premium". This trend is largely attributed to local regulations and capital controls. In addition, there is strong demand for cryptocurrencies in South Korea. Throughout the year, the Korean won has been the second most traded fiat currency with BTC, second only to the US dollar. Currently, the Korean won ranks fifth in BTC trading pairs, behind USDT, USD, FDUSD and USDC. The US dollar accounts for 17.75% of BTC trading volume, while the Korean won accounts for 3.99% of BTC trading volume today. The euro is second only to the Korean won, accounting for 1.06% of BTC trading volume in the past 24 hours. (Bitcoin.com)