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South Korea’s Kimchi premium turns to discount

Published 02/20/2023, 12:49 AM
Updated 02/20/2023, 02:20 AM
BTC/USD
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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 in other markets.

The Korea Premium index has been shifting between the -0.24 and 0.01 range between Feb.17 and 19. Source: CryptoQuant

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