{"id":40331,"date":"2021-04-07T14:33:37","date_gmt":"2021-04-07T11:33:37","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=40331"},"modified":"2025-08-30T13:41:25","modified_gmt":"2025-08-30T10:41:25","slug":"kimchi-premium-on-bitcoin-in-south-korea-narrows-to-9-then-rebounds-to-15","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/kimchi-premium-on-bitcoin-in-south-korea-narrows-to-9-then-rebounds-to-15\/","title":{"rendered":"Kimchi premium on Bitcoin in South Korea narrows to 9%, then rebounds to 15%"},"content":{"rendered":"<p>The Kimchi premium on Bitcoin in South Korea relative to global values has more than halved as Bitcoin&#8217;s price fell. The so-called &#8216;Kimchi premium&#8217; subsequently rebounded to 15%.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Kimchi premium has started to nosedive. From above 23% to about 14% in just about five hours. Worth watching this closely <a href=\"https:\/\/t.co\/8Z4yKGQubs\">pic.twitter.com\/8Z4yKGQubs<\/a><\/p>\n<p>\u2014 Larry Cermak (@lawmaster) <a href=\"https:\/\/twitter.com\/lawmaster\/status\/1379691336673148928?ref_src=twsrc%5Etfw\">April 7, 2021<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to The Block analyst Larry Cermak, the &#8216;Kimchi premium&#8217; narrowed from 23% to 14% in five hours, and the drop from 17% to 9% took 10 minutes.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">AND we are below 10%\u2026 This has dropped from 17% premium to now around 9% in the last 10 minutes. Someone is making 10s of millions as we speak <a href=\"https:\/\/t.co\/6l2JPr6AeK\">pic.twitter.com\/6l2JPr6AeK<\/a><\/p>\n<p>\u2014 Larry Cermak (@lawmaster) <a href=\"https:\/\/twitter.com\/lawmaster\/status\/1379693056539123713?ref_src=twsrc%5Etfw\">April 7, 2021<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>At the time of writing, Bitcoin was trading on the South Korean crypto exchange Bithumb at around $65,500. The &#8216;Kimchi premium&#8217; had rebounded to 15%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"883\" height=\"551\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/11-43.png\" alt=\"Kimchi premium on Bitcoin in South Korea narrowed to 9%, then rebounded to 15%\" class=\"wp-image-130989\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/11-43.png 883w, https:\/\/u1f987.com\/wp-content\/uploads\/11-43-300x187.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/11-43-768x479.png 768w\" sizes=\"auto, (max-width: 883px) 100vw, 883px\" \/><figcaption>Daily BTC\/KRW chart on the Bithumb exchange from <a href=\"https:\/\/in.tradingview.com\/symbols\/BTCKRW\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The price of Bitcoin on overseas exchanges is $57,000, according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">CoinGecko<\/a>.<\/p>\n<p>The Ethereum Kimchi premium exceeded 14%. At the time of writing, the price of the second-largest cryptocurrency stood at $2,024 on foreign platforms and $2,311 on South Korean ones, in USD terms.<\/p>\n<p>Arbitrageurs cannot take advantage of the price discrepancy. According to <a href=\"https:\/\/www.theblockcrypto.com\/linked\/100490\/bitcoin-btc-price-66000-south-korea-kimchi-premium\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">The Block<\/a>, South Korean bitcoin exchanges are prohibited from opening accounts for foreign nationals, and foreign platforms do not support Bitcoin paired with the won.<\/p>\n<p>The publication citing a study from the University of Calgary noted that from 2016 to 2018 the &#8216;Kimchi premium&#8217; averaged 4.8%. At its peak, the indicator reached almost 55%.<\/p>\n<p>On 5 April 2021, the price on Korean exchanges <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-on-south-korean-exchanges-reaches-66500-in-local-currency\">reached $66 500 in the local currency<\/a>. The &#8216;Kimchi premium&#8217; exceeded 15%.<\/p>\n<p>In 2019, ForkLog reported that in Asian countries Bitcoin traded 3-5% higher than on other markets.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Kimchi premium on South Korea&#8217;s crypto exchanges relative to global values halved as Bitcoin&#8217;s price fell. The so-called Kimchi premium later rebounded to 15%.<\/p>\n","protected":false},"author":1,"featured_media":40332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,973,974],"class_list":["post-40331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-bithumb","tag-south-korea"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=40331"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40331\/revisions"}],"predecessor-version":[{"id":40333,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40331\/revisions\/40333"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/40332"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=40331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=40331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=40331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}