Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: Sharpmax on March 30, 2021, 12:56:26 AM
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The "Kimchi premium" is back. Bitcoin (BTC) is trading more than 6% higher across major South Korean crypto exchanges as of March 29.
Data from CryptoQuant shows that the premium in the South Korean market was nonexistent for many months and, in fact, dropped to around -6% in early February when BTC dipped below $30,000.
The so-called Kimchi premium forms when the price of Bitcoin trades higher on South Korean exchanges than other markets.
The return of this premium is a bullish sign suggesting that demand for Bitcoin in South Korea is likely outpacing supply.
Source (https://cryptonews.net/503874/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)