As cryptocurrency regulation heats up around the world, South Korean officials are increasing regulatory discussions regarding the swollen crypto economy. While digital currency markets such as bitcoin have declined in value in recent times, global crypto market prices have increased across the board on Monday. In South Korea, crypto-assets such as bitcoin are once again experiencing a ‘kimchi premium’, as the price per bitcoin is 8% higher than the global average.
Bithamb and Corbit bitcoin exchange rates indicate that bitcoin premiums are coming back
After the market massacre that affected digital currency prices over the past week and weekend, the ‘kimchi premium’ has returned to South Korea. The global average shows that crypto-assets such as bitcoin (B T c) And Ethereum (ETH) Have jumped Important in value.
B T c 10% up and ETH There has been an increase of 20% during the last 24 hours. At 8:42 am (EST), the global average of bitcoin reached a daily high of $ 38,800 per coin. However, in South Korea, B T c Prices are higher than the global average as Korbit and Bithumb highlight the difference.
Currently, for ‘kimchi premium’ in South Korea B T c 8% higher because the global average of bitcoin is $ 37,700 and BTC spot price of Bithumb $ 40,800 per is B T c. Exchange rate of corbit Is slightly lower at $ 40,568 per unit, but still a premium compared to the global average.
ETH South Korea also saw a slight increase in prices as rates for the Bithumb and Korbit exchange rates ETH $ 100 more than the global average. Bithumb has far more dominance than Corbit, as it commands more than $ 2.4 billion in 24-hour crypto trading volume. On the other hand, Corbitt earned $ 149 million on Monday.
Government looks closer to premium, see price discrepancies in contrast to the myriad global average of crypto assets
South Korea’s crypto is in premium Have you seen On several occasions in 2021 and this has caused regulators to look more closely at and consider the crypto economy. Strict digital currency rules. A report from Mile Kyungjae Had shown that the South Korean government had become concerned about the ‘kimchi premium’ after the premium Touched a high Over 18% during the first week of April.
Apart from this some other crypto assets B T c And ETH Looking at a premium in South Korea. In the country, digital currencies like Xrp, etc, Ada, EOS, BCH, And DOGE are all trading for higher values in contrast to today’s global average.
What do you think about the return of ‘Kimchi Premium’ in South Korea? Tell us what you think about this topic in the comments section below.
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