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South Korea’s Bitcoin ‘Kimchi Premium’ Breaks 2-Year Record

Published 03/08/2024, 01:21 PM
Updated 03/08/2024, 01:45 PM
© Reuters.  South Korea’s Bitcoin ‘Kimchi Premium’ Breaks 2-Year Record
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  • South Korea’s Bitcoin price premium hits 10%, signaling renewed retail investor interest.
  • Retail dominance fuels Bitcoin liquidity surge in South Korea despite subdued institutional investment.
  • Ki Young Ju’s analysis suggests Bitcoin’s price is unlikely to dip below $46,376, offering reassurance to investors.

Bitcoin is reaching new heights in South Korea, with its price premium achieving a 2-year record of 10% in the country, according to the co-founder and CEO of the crypto-analytics firm CryptoQuant, Ki Young Ju. The rise in trading volume reflects that there is a renewed interest among Korean individual investors, which might be a signal that the market dynamics are also changing.

The price premium, often referred to as the “Kimchi Premium” or the Korea Premium Index, denotes the variance between Bitcoin’s value on global exchanges and its value on exchanges within South Korea. This premium has historically been a barometer of t…

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