South Korea’s Bitcoin Surge: Understanding the Kimchi Premium
Political Instability Fuels Bitcoin SurgeSouth Korea's political turmoil is shaking financial markets, driving Bitcoin prices up by $2,000 locally compared to Western exchanges.
CryptoQuant Highlights Market GapsCryptoQuant reveals stark price differences between exchanges: Bitcoin on Coinbase was $94,960, while on South Korea's Upbit, it hit $96,720.
The Impact of South Korean PoliticsRecent political events, including the impeachment of interim President Han Duck-soo and martial law controversies, have deepened the crisis.
The Kimchi Premium PhenomenonThe “Kimchi Premium” describes the consistent higher price of Bitcoin in South Korea.
Why Bitcoin is Always Pricier in South KoreaDespite global trends, South Korea’s tight regulations and market quirks keep Bitcoin prices elevated.