Cryptocurrency Analysis and News Portal
ALSO: A crypto markets analyst suggests that the U.S. central bank may not be finished with interest rate hikes, even if it raises the rate on Wednesday as expected. Original Source
Read More
South Korea’s "Kimchi premium" has flipped to a discount again, meaning cryptocurrencies such as Bitcoin are now cheaper to buy on South Korean exchanges.The phenomenon is named after the Korean dish kimchi. The Kimchi premium refers to when the price of Bitcoin (BTC) trades higher on South Korean exchanges than
Read More
A newly-released study published in December 2022 reveals that South Korea’s “kimchi premium,” the divergence in cryptocurrency valuations on Korean exchanges compared to Western trading platforms, is strongly associated with a surge in international remittances to China. Examination of Overseas Remittances to China Uncovers Strong Correlation with South Korea’s ‘Kimchi Premium’ According
Read More
South Korean banks are being investigated for their role in facilitating $6.5 billion in suspicious overseas remittances which have been tied to companies arbitraging cryptocurrency. According to an Aug. 15 report from Asia Times, the Financial Supervisory Service (FSS) ordered an investigation into South Korean banks last month after identifying a
Read More
Summary: South Korean authorities have launched a probe into the Bitcoin ‘Kimchi Premium.’ The investigations cite that the Kimchi Premium was used to make profits that were transferred abroad through illegal remittances. Authorities in South Korea have launched investigations into the famous Bitcoin ‘Kimchi’ premium. According to local reports, the Seoul Central District Prosecutor’s
Read More
In an interview with CryptoX TV's "First Mover" program, Scott Freeman, co-founder and partner of financial services firm JST Capital, suggested the global unrest was hurting bitcoin's price, despite major buys over the past 10 days by Terra's Luna Foundation and MicroStrategy (MSTR), which purchased over $190 million in the
Read More
Bitcoin (BTC) was trading at $5,000 higher in South Korea than in other markets on Wednesday as capital flow controls continue to enforce the “kimchi premium.” While Bitcoin was trading at $39,932 on Coinbase at the time of publication, the price on the Korea-based Bithumb exchange stood at $45,115.According to
Read More
Bitcoin prices dropped lost 3.12 percent in early trading Monday, while the rest of the crypto market followed suit, turning lower aggressively after their record-setting bull runs at the start of this week. Bitcoin wobbles around $56,000. Source: BTCUSD on TradingView.com At first, it appeared like a regular profit-taking exercise among western
Read More
Bitcoin price is currently trading at a substantial premium on South Korean crypto exchanges – more than $6,000 per coin in USD equivalent. However, in the past this so-called “Kimchi Premium” has signaled the end of the bull trend. Is this a sign that things across the crypto market could soon
Read More
The “kimchi premium” has returned. Price premiums for bitcoin on South Korean exchanges have hit two-year highs, indicating retail investment interest in cryptocurrencies is surging in that country. However, analysts and traders warn that certain market players could take advantage of arbitrage opportunities, resulting in short-term price volatility.The “kimchi premium,”
Read More