Coinspeaker
Bitcoin’s Kimchi Premium Dips by 1.54% amid Market Fluctuation

Within the last four weeks, the Bitcoin (BTC) price gap in South Korea, commonly known as the ‘Kimchi Premium’ has seen a steady decline. According to insights from CryptoQuant data, the Kimchi Premium shrunk by 1.54% in Asia on Friday. Noteworthy, the CryptoQuant metric draws a comparison between the price of Bitcoin in the United States market and in South Korea.

Bitcoin Kimchi Premium Helps in Exploring South Korean

Coinspeaker explained the Kimchi Premium as a distinctive phenomenon in the cryptocurrency market, exclusive to South Korea. This phenomenon offers alluring yet somewhat precarious opportunities for traders due to the country’s stringent regulations. It shows the difference between the trading prices of Bitcoin and other cryptocurrencies when traded on South Korean and foreign exchanges.

The Kimchi Premium was developed due to certain factors including favorable trade regulations in South Korea, people’s willingne...