{"id":260555,"date":"2024-03-07T11:00:04","date_gmt":"2024-03-07T05:30:04","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-btc-kimchi-premium-in-south-korea-reaches-two-year-high-crypto-news\/"},"modified":"2024-03-07T11:00:07","modified_gmt":"2024-03-07T05:30:07","slug":"bitcoin-btc-kimchi-premium-in-south-korea-reaches-two-year-high-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-btc-kimchi-premium-in-south-korea-reaches-two-year-high-crypto-news\/","title":{"rendered":"Bitcoin (BTC) Kimchi Premium in South Korea Reaches Two-Year High &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>After a brief pullback to $60,000 on Wednesday, the world\u2019s largest cryptocurrency Bitcoin (BTC) has given a healthy recovery. The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/bitcoin\/\">Bitcoin (BTC) price<\/a> is up 4% in the last 24 hours shooting past $66,000 once again.<\/p>\n<h3>Bitcoin (BTC) Kimchi Premium Jumps 10%<\/h3>\n<p>In a recent statement, CryptoQuant CEO Ki Young Ju revealed that Bitcoin\u2019s price premium in South Korea has reached an impressive 10%, marking its highest level in two years. Ju highlighted the resurgence of Korean retail investors in the cryptocurrency market, indicating a renewed interest and confidence among local traders.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<figure id=\"attachment_184470\" aria-describedby=\"caption-attachment-184470\" style=\"width: 1472px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-184470\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/Bitcoin-Kimchi-Premium.jpeg\" alt=\"\" width=\"1472\" height=\"942\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/Bitcoin-Kimchi-Premium.jpeg 1472w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/Bitcoin-Kimchi-Premium-300x192.jpeg 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/Bitcoin-Kimchi-Premium-1224x783.jpeg 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/Bitcoin-Kimchi-Premium-768x491.jpeg 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/Bitcoin-Kimchi-Premium-150x96.jpeg 150w\" sizes=\"auto, (max-width: 1472px) 100vw, 1472px\"\/><\/noscript><figcaption id=\"caption-attachment-184470\" class=\"wp-caption-text\">Courtesy: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/2hsQyawe2i\">CryptoQuant<\/a><\/figcaption><\/figure>\n<p>The Kimchi premium refers to the variance in cryptocurrency asset prices between South Korean exchanges and those abroad. This premium has been on an upward trajectory alongside the BTC price since the beginning of February.<\/p>\n<p>According to on-chain data from CryptoQuant, the Korea Premium index surged from 5.19 on February 28 to 6.84 on March 5. This increase occurred simultaneously with Bitcoin reaching a new all-time high surpassing $69,200 on March 5, attributed to ongoing investments in Bitcoin ETFs in the United States.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p>Unlike the US, there are still no <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/bitcoin-spot-etf\/\">Bitcoin ETFs<\/a> in South Korea to witness strong institutional participation. As a result, retail spot buying has been majorly driving up prices on the Korean exchanges.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p>In December 2017, amid BTC\u2019s bullish surge, South Korean exchanges were trading Bitcoin at nearly 50% higher prices compared to most global exchanges. As a result, CoinMarketCap had to delist some Korean exchanges due to \u201csignificant price disparity from the global average\u201d.<\/p>\n<p>Similarly, during the 2021 bull run, the Kimchi premium reached its peak at 21.56% on May 19, coinciding with Bitcoin\u2019s price exceeding $36,000 before eventually reaching its previous all-time high in November 2021.<\/p>\n<h3>South Korea Eyes for A BTC ETF Approval<\/h3>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p>South Korea, recognized for its tech-savvy populace, is considering the possibility of approving Bitcoin Spot ETFs. As per a recent <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/south-korea-mulls-spot-bitcoin-etf-approval-btc-price-nears-ath\/\">report<\/a>, Lee Bok-hyun, the governor of the Financial Supervisory Service, mentioned in a radio interview that authorities are currently discussing the legalization of Bitcoin Spot ETFs in the country.<\/p>\n<p>However, the classification of BTC as an underlying asset remains a significant concern for South Korean regulators. While financial authorities in January expressed no plans to regulate Bitcoin ETFs, the sale of spot Bitcoin ETFs by brokerages raised queries under the Capital Markets Act.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/bitcoin-btc-kimchi-premium-in-south-korea-reaches-two-year-high\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/bitcoin-btc-kimchi-premium-in-south-korea-reaches-two-year-high\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/?utm_source=priceanalysisbar&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA184469\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD184469\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/why-google-apologize-to-india-for-ai-political-bug\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-image-24.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Why Google apologize to India for AI political bug?\" decoding=\"async\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-image-24.jpg 640w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-image-24-225x300.jpg 225w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-image-24-150x200.jpg 150w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/div>\n\n\n                \n\n<div class=\"Educontent\">Why Google apologize to India for AI political bug? <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n              \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/why-elon-musk-trolls-meta-as-it-crashes\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2022\/12\/cropped-skynews-elon-musk-twitter_5938597.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Why Elon Musk Trolls Meta as it Crashes?\" decoding=\"async\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2022\/12\/cropped-skynews-elon-musk-twitter_5938597.jpg 640w, https:\/\/coingape.com\/wp-content\/uploads\/2022\/12\/cropped-skynews-elon-musk-twitter_5938597-225x300.jpg 225w, https:\/\/coingape.com\/wp-content\/uploads\/2022\/12\/cropped-skynews-elon-musk-twitter_5938597-150x200.jpg 150w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/div>\n\n\n                \n\n<div class=\"Educontent\">Why Elon Musk Trolls Meta as it Crashes? <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n              \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/5-reasons-solana-will-outpace-bitcoin\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-image-19.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"5 Reasons Solana Will Outpace Bitcoin\" decoding=\"async\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-image-19.jpg 640w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-image-19-225x300.jpg 225w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-image-19-150x200.jpg 150w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/div>\n\n\n                \n\n<div class=\"Educontent\">5 Reasons Solana Will Outpace Bitcoin <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n     \n                              \n          <\/div>\n\n\n    \n          \n \n    \n            \n    <\/div>\n\n        --><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After a brief pullback to $60,000 on Wednesday, the world\u2019s largest cryptocurrency Bitcoin (BTC) has given a healthy recovery. The Bitcoin (BTC) price is up 4% in the last 24 hours shooting past $66,000 once again. Bitcoin (BTC) Kimchi Premium Jumps 10% In a recent statement, CryptoQuant CEO Ki Young Ju revealed that Bitcoin\u2019s price [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":227719,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-260555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/260555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=260555"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/260555\/revisions"}],"predecessor-version":[{"id":260556,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/260555\/revisions\/260556"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/227719"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=260555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=260555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=260555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}