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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
A key metric to gauge the interest in Bitcoin from investors in South Korea has risen this week to a four-month high, as the political turmoil in the East Asian country deepens.
“Kimchi Premium,” which refers to the price gap between Bitcoin on South Korean exchange Upbit compared to Coinbase, has surged to the range of 3-5% this week, according to data compiled by blockchain data platform CryptoQuant. An increase in the metric usually indicates an elevated demand from South Korea-based investors in Bitcoin. The same metric for stablecoin Tether also has surged to the similar range.
