South Korea’s ‘Kimchi Premium’ Returns, BTC Prices Up 8% Higher Than Global Average

South Korea’s ‘Kimchi Premium’ Returns, BTC Prices Up 8% Higher Than Global Average
фото показано с : news.bitcoin.com

2021-5-24 17:54

As cryptocurrency regulation heats up worldwide, South Korean officials have been increasing regulatory discussions concerning the swelling crypto economy. While digital currency markets like bitcoin have tumbled in value in recent times, global crypto market prices have increased across the board on Monday. In South Korea, crypto-assets like bitcoin are once again experiencing a ‘kimchi premium,’ as the price per bitcoin is 8% higher than the global average.

Bithumb and Korbit Bitcoin Exchange Rates Indicate Bitcoin Premiums Are Returning

The ‘kimchi premium’ in South Korea has returned, following the market carnage that plagued digital currency prices last week and into the weekend. Global averages show that crypto-assets like bitcoin (BTC) and ethereum (ETH) have jumped significantly in value.

BTC is up 10% and ETH has gained 20% during the last 24 hours. At 8:42 a.m. (EST), bitcoin’s global average tapped a daily high of $38,800 per coin. However, in South Korea, BTC prices are higher than the global average as Korbit and Bithumb highlight the difference.

Currently, the ‘kimchi premium’ in South Korea for BTC is 8% higher as bitcoin’s global average is $37,700 and Bithumb’s BTC spot price is $40,800 per BTC. Korbit’s exchange rate is a bit lower at $40,568 per unit but still carries a premium compared to the global average.

ETH prices in South Korea also show a slight uptick as Bithumb and Korbit exchange rates for ETH is $100 higher than the global average. Bithumb has far more dominance than Korbit, as it commands more than $2.4 billion in 24-hour crypto trade volume. Korbit on the other hand captures $149 million on Monday.

Government Looks Closer at Premiums, A Myriad of Crypto Assets See Price Discrepancies in Contrast to Global Averages

South Korea’s crypto premiums have appeared in 2021 on multiple occasions and this has caused regulators to look more closely at the crypto economy and ponder stricter digital currency regulations. A report from Maeil Kyungjae had shown the South Korean government grew concerned about the ‘kimchi premium,’ after the premium touched a high of more than 18% during the first week of April.

A few other crypto assets besides BTC and ETH are seeing premiums in South Korea. In the country, digital currencies such as XRP, ETC, ADA, EOS, BCH, and DOGE are all trading for higher values in contrast to today’s global averages.

What do you think about the ‘kimchi premium’ in South Korea returning? Let us know what you think about this subject in the comments section below.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Global Currency Reserve (GCR) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.569
Капитализация $0 Rank 99999
Цена в час новости $ 0.0005018 (-100%)

global prices crypto south markets like currency

Источник: news.bitcoin.com

global prices → Результатов: 126


Фото:

Bitcoin Miners Strain Under Semiconductor Supply Crunch, Second-Hand Mining Rig Prices Soar

Bitcoin mining rig manufacturers are dealing with a semiconductor supply crunch according to regional reports stemming from China. There’s been a global semiconductor supply shortage and it’s affecting nearly every type of business in the supply chain that manufactures cars, PCs, laptops, smartphones, and cryptocurrency mining devices.

2021-1-30 03:30


Bitcoin Logs Revenge Recovery as Lagarde Calls for Global Regulation

Bitcoin prices drifted higher on Wednesday, breaking away from bearish calls as Christine Lagarde raised the need to regulate it at the global level. In an interview with Reuters, the European Central Bank President said that Bitcoin is a highly speculative asset that has facilitated “some reprehensible activity,” such as money laundering, adding that “there […]

2021-1-14 22:58


Фото:

VERTEX Exchange Introduces Global Trading Platform to Help Crypto Communities Sell Tokens at All-Time High Prices

Hong Kong, October 20, 2020 – Vertex Exchange has announced that its global community-oriented trading platform will be officially launched on October 20, 2020. Vertex Exchange aims to be the leading global trading platform that merges all altcoin communities from around the world to form one main crypto community trading with only one native token […]

2020-10-22 13:22


Bitcoin Pushes Higher But is it Enough to Bring in Confidence in Decoupling

Coronavirus has led to uncertainty in the global financial markets. All the major indexes have plummeted over the past few weeks as the market crashes in the severity of the Covid-19. In line with the global markets, bitcoin also crashed as investors took a risk-off approach due to global uncertainty. This crash in BTC prices […]

2020-3-22 23:59


Фото:

Market Update: Plustoken BTC Moves, Crypto Prices Dive, Coronavirus Cripples Global Markets

Cryptocurrency markets lost more than $30 billion in the last 24 hours as digital asset prices have been slashed alongside traditional stock and commodity markets. Further, crypto proponents have spied Plustoken bitcoins on the move again and speculators assume that 13,000 BTC ($102M) might have invoked the weekend’s massive sell-off.

2020-3-10 20:12


Ethereum Technical Indicator Flashes Warning Signal But Active Addresses Jump Nearly 27%

There is an onslaught of bulls on Ethereum price which is up 114% in 2020 so far while trading at $281, a level last seen in early July last year. However, according to Bloomberg’s GTI Global Strength Indicator that measures upwards and downward moves of closing prices, the coin has been at its “most overbought” […]

2020-2-16 20:15


Фото:

Paxful Reveals Data Since Inception, 2019 Growth Stats

The global peer-to-peer Bitcoin marketplace, Paxful, has revealed it processed almost $1.6 billion in P2P Bitcoin trades in 2019, representing a gradual uptrend since its inception in 2015. Prices May Be Subdued, But Paxful Is On The Rise Announcing its annual growth metrics on the same day as revealing the company’s historical figures dating back […] The post Paxful Reveals Data Since Inception, 2019 Growth Stats appeared first on Crypto Briefing.

2019-12-19 17:00


Aussies Rewarded with a Special 20% Crypto Payback by Incent at United Petrol Stations

On Thursday, September 26, 2019, Sydney startup, Incent announced that it will be rewards consumers with a 20% crypto-back in INCNT tokens at all United Petrol stations around Australia. As reported in the press release, the short-term rebate so to speak was decided upon merely to support Aussies in a time where global fuel prices […]

2019-9-30 15:45


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Crypto experts explain why XRP price could surge soon

XRP price has performed well so far this month, with crypto experts predicting that the rally could gain momentum soon. Ripple (XRP) crossed the key resistance level at $1 this week as demand surged, marking a nearly 200% increase from…

XRP достиг $1 раньше Dogecoin и Cardano

XRP ошеломил крипторынок, превысив $1, опередив Cardano (ADA) и Dogecoin (DOGE). До этого скачка криптосообщество было вовлечено в дебаты о том, какие активы среди XRP, ADA и DOGE первыми достигнут отметки $1.

XRP Crosses $1: What’s Next?

XRP has surged past the $1 threshold for the first time since December 2021. This breakthrough comes as investors closely watch the token’s trajectory, buoyed by significant legal victories and shifting regulatory sentiments.