According to Odaily Planet Daily, according to a recent report by Chainalysis, South Korea's cryptocurrency market is showing growth, mainly driven by the rise of the Korea Premium Index.

The report highlights that local demand, institutional trading, and unique market conditions have led to crypto prices on local exchanges exceeding the global average. The Korea Premium Index measures the spread of cryptocurrencies such as BTC, ETH, and altcoins between Korean exchanges and global markets.

The report noted that the sharp rise in the index shows the extent to which South Korean traders are paying above market prices for digital assets. This premium is at an all-time high during a period of market uncertainty and volatility, prompting retail and institutional investors to seize the opportunity for potential gains.

The report further highlighted that Koreans frequently use local exchanges for fund management and the amount transferred from local exchanges to global exchanges is highly correlated with the premium.