Bitcoin has soared, doubling in value since the start of the year. Interestingly, however, South Korea's famous 'Kimchi premium' is still missing from the current bull market.
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Although South Korea is ranked as the 5th largest Bitcoin trading pair, it has recently seen an unprecedented 'Kimchi Discount'.
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The bitcoin price on Upbit and Bithumb is slightly lower. This situation is completely different from âPremium kimchiâ that was noticed last year This generally manifests itself during bull markets. As a result, the value of BTC is hundreds of dollars higher than the global average.
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Bitcoin trading is currently booming in South Korea, according to data from cryptocompare.com. It was revealed that the Korean won is the fifth largest trading pair of bitcoin, accounting for 3.73% of all BTC global trades.
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