From late October, South Korean crypto exchanges switched from BTC discount to premium, reaching a premium of 2.21%

Odaily Planet Daily News: From October 12 to October 20, 2024, CryptoQuant data shows that the trading price of BTC in South Korea was below the global average. However, after the 20th, the price switched to a premium, reaching 2.21% by October 24. By Halloween (October 31, the 16th anniversary of the Bitcoin white paper), the premium on Korean exchanges reached 1.93%. Over the years, the trading price of BTC in South Korea has generally been higher compared to the global market, known as the 'Kimchi Premium.' This trend is largely attributed to local regulations and capital controls. In addition, the demand for cryptocurrencies in South Korea is strong. Throughout the year, the South Korean won has been the second-largest fiat currency by BTC trading volume, only behind the US dollar. Currently, the won ranks fifth in BTC trading pairs, following USDT, USD, FDUSD, and USDC. The US dollar accounts for 17.75% of BTC trading volume, while the won accounts for 3.99% of today's BTC trading volume. The euro follows the won, accounting for 1.06% of BTC trading volume in the past 24 hours. (Bitcoin.com)