Aptos’ star-studded founders and the market’s disbelief in the rally could further fuel the rise in APT price.
Kimchi Premium News
The “Kimchi premium” is a term used in the cryptocurrency industry to describe when the price of a given digital asset on a South Korean exchange is higher than the price of the same asset on other exchanges. The phenomenon is most commonly seen with Bitcoin (BTC) and Ethereum (ETH) and is often attributed to their high demand in the region. The term is a play on the Korean dish kimchi, which is typically made with cabbage fermented in a spicy chili sauce. Just as kimchi is a popular dish in Korea, so too are digital assets like Bitcoin and Ethereum.
The Kimchi premium is not always present, and its existence is often dependent on market conditions. For example, the premium disappeared in early 2018 when the South Korean government announced it was planning to crack down on cryptocurrency trading. However, the premium has since returned as investor confidence in the industry has increased. Some traders try to profit by trading the price differences between various exchanges, a practice known as arbitrage. Arbitrage has historically been used by currency traders seeking mismatches in exchange rates to identify arbitrage possibilities. However, the Kimchi premium has made it more difficult to profit from arbitrage opportunities in the cryptocurrency market since it’s often driven by factors specific to the South Korean market, such as regulations and news.
South Korean financial regulators are looking into the massive amount of foreign remittances of cash that came from crypto exchanges.2553
From Singapore to Thailand and Indonesia: Asia’s crypto landscape continued to thrive, unabated by China’s sudden crackdown.11929
More than 30 people are facing fines and prosecution in South Korea for allegedly contravening the country’s ban on overseas crypto transactions.3852
Millennials and Gen Z in South Korea have been struggling to survive an economy characterized by high asset inflation and suppressed wages.4115
Between strict capital controls and regulations, Korea’s cryptocurrency industry is so closed off that Bitcoin commands a steep premium and DeFi is in its infancy.15061
Bitcoin is trading at 12.5% higher in South Korea than in other markets, while gold prices climb to quarterly highs.17785
South Korea’s Kimchi premium has collapsed, but it is likely not a sign of a short-term Bitcoin top.32617
Is a surging premium in South Korea a top signal or a sign that the Bitcoin rally is only getting started?48516
Demand for Bitcoin in South Korea is heating up as the country's BTC premium rises over 5%.17503
The Bank of Korea claims it expects another “kimchi premium” — a widening of the gap in crypto prices between local and foreign exchanges.7895