Bitcoin's kimchi premium in South Korea has dwindled to zero, indicating that the cryptocurrency is now trading at the same value in the country as it is on global exchanges. On Upbit, the largest cryptocurrency exchange in South Korea, Bitcoin is currently trading at 144,886,000 KRW, while on Binance, the world's largest cryptocurrency exchange, it is trading at 144,889,532 KRW. This represents a difference of just -3,532 KRW, which is negligible. The kimchi premium is a measure of the difference between the price of Bitcoin in South Korea and its price on global exchanges. In the past, the kimchi premium has been as high as 20%, but it has been steadily declining in recent months. The decline in the kimchi premium is likely due to a combination of factors, including increased regulatory scrutiny of cryptocurrency exchanges in South Korea and the growing popularity of global exchanges. As a result, it is becoming easier for South Korean investors to trade Bitcoin on global exchanges, which has reduced the demand for Bitcoin on South Korean exchanges. The disappearance of the kimchi premium is a significant development for the cryptocurrency market in South Korea. It indicates that the country is becoming more integrated with the global cryptocurrency market, and it is likely to lead to increased liquidity and stability in the South Korean cryptocurrency market.

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