Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: RSRS on August 14, 2021, 02:48:09 PM
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South Korean investors are returning to the markets after weeks of inactivity, data has shown. But the kimchi premium has flipped on its head again for the first time in two years – resulting in a small “kimchi bonus,” and slightly lower bitcoin (BTC) and altcoin prices on most major exchanges.
Much was made of the resurgence earlier this year of the kimchi premium, a phenomenon whereby volume and demand swell so high on South Korean exchanges that prices rise higher than the global average on platforms like Binance and Coinbase.
Some more opportunistic individuals sought to take advantage – by buying BTC and altcoins over-the-counter in nearby nations like China and “dumping” the coins on domestic exchanges for profits of up to 10% or more. This in turn led the government and customs officials to crack down, handing out massive fines to offenders they identified.
More information (https://cryptonews.net/en/news/market/1415213/)