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South Korean Bitcoin Market Rekindles Kimchi Premium

Guavy AI Editorial Team
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Bitcoin's 'Kimchi Premium' has returned to South Korea, indicating increased interest in cryptocurrency among local traders. After a surge in token prices, risk appetite in one of the most closely watched retail markets has picked up.

The Bitcoin price on Upbit, owned by Dunamu Inc., is trading at a 1% premium over the dollar price from Binance Holdings Ltd. This premium has been sustained for the past week, the longest streak since early May.

The 'Kimchi Premium' refers to the phenomenon where Bitcoin prices in South Korea exceed those on global exchanges due to local demand and regulatory factors.

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