Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»BITCOIN NEWS»Koreans are addicted to Bitcoin mania
BITCOIN NEWS

Koreans are addicted to Bitcoin mania

By Crypto FlexsDecember 27, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Koreans are addicted to Bitcoin mania
Share
Facebook Twitter LinkedIn Pinterest Email

December was a fiery month for the cryptocurrency sector. South Korea’s Bitcoin Premium Index, a thermometer of the nation’s purchasing power, has soared to levels reminiscent of its November 2021 highs. This sudden heat wave has analysts sweating and unsure whether this is a harbinger of strength or a prelude to a severe correction.

Bitcoin ‘Kimchi Premium’ – Korean FOMO excitement

Market watcher CryptoQuant points to an interesting trend: “Korean premium overheating.” They whispered that this phenomenon could be a sign of a price peak due to a powerful mix of FOMO-driven excitement and Korean cash pouring into digital shores.

Korean premium is overheating.

“The Korean Premium Index is often used to identify peak prices because Koreans 1) have immediate access to cash to purchase coins on exchanges and 2) have a high level of FOMO.”
by @Signal_Quant

Link 👇https://t.co/qNyrcdtenV

— CryptoQuant.com (@cryptoQuant_com) December 26, 2023

Currently, Bitcoin is just over the $42,000 level and is hurting 1.33% in the last 24 hours. But in Korea, the story is different. The premium index responds positively, revealing retail investors’ willingness to pay a premium for Bitcoin corrections. This upward trend suggests a desire for higher prices for kimchi.

BTC price action in the last 24-hours. Source: Coingecko

The ‘Kimchi Premium’, which is the price gap between Korea and global exchanges, is not unfamiliar in the cryptocurrency scene. Think of Bitcoin in a fiery gochujang robe, offered at a premium by Korean traders eager to sample the digital delicacy.

On Upbit, the kingpin of Korean exchanges, Bitcoin emerged as the third most traded asset over the past day, with the BTC/KRW pair accounting for 7% of total volume. Bithumb, another kimchi enthusiast, became even hotter, accounting for 48% of the total transaction amount.

Bitcoin slightly below the $43K level today. Chart: TradingView.com

South Korea’s cryptocurrency craze: technology, openness, caution

Why the Korean craze? Legal Bitcoin ownership, a tech-savvy public that loves digital thrills, and perhaps a bit of a national gambling ethos seem to be the secret ingredients. This open-mindedness has transformed the country into fertile ground for cryptocurrency adoption, with Bitcoin taking the top spot on the digital menu.

However, you need to be careful amid the kimchi-scented happiness. Like the capricious plot of a K-drama, the premium index can change direction in an instant. If Korea’s purchasing power plummets or global markets correct, premiums could plummet, leaving investors with heartburn instead of profits.

Cryptocurrency trading has established itself in Korea. The country’s government has decriminalized Bitcoin ownership and trading on regulated exchanges. One of the reasons for the country’s early adoption of digital currencies and general openness to new ideas is its fascination with technology and gaming.

The Bitcoin scene in Korea is truly spectacular and offers a glimpse into the future of global cryptocurrency adoption. Whether that’s a prelude to the bullshit or a spicy fix is ​​yet to be seen. But one thing is certain. The Korean market is adding a unique flavor to the global cryptocurrency industry, and if you pay close attention to the price tag, it’s worth savoring.

Featured image from Shutterstock

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

As Nano Labs begins to accumulate $ 1 billion, BNB gets a big supporter.

July 5, 2025

Bitcoin is integrated into less than $ 108,000, but the eyes are set for $ 115,000.

June 29, 2025

Sequans starts $ 384M Bitcoin Treasury Initiative with Swan Bitcoin Partnership.

June 23, 2025
Add A Comment

Comments are closed.

Recent Posts

From Wall Street to Wallet: Ark Defai redefines financial architecture.

July 7, 2025

What Every Investor Should Know

July 6, 2025

Protecting Your Portfolio In A Volatile Market

July 6, 2025

A Trader’s Guide To Smarter Moves

July 6, 2025

Crypto Price Prediction Strategies – How Traders Forecast The Market

July 6, 2025

Causes, History, And How To Survive

July 6, 2025

A Guide To High-Risk, High-Reward Strategies

July 6, 2025

Ethereum MVRV has 1.20–1.25 and suggests that Market Peak is not visible.

July 6, 2025

Bitcoin holders reach $ 1 trillion in paper gains.

July 6, 2025

It flashes again in July

July 6, 2025

AAS MINER Rolls Out 2025 AI Cloud Mining Plan — Fully SEC-Compliant, Risk-Controlled, And Tailored For Crypto Enthusiasts

July 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

From Wall Street to Wallet: Ark Defai redefines financial architecture.

July 7, 2025

What Every Investor Should Know

July 6, 2025

Protecting Your Portfolio In A Volatile Market

July 6, 2025
Most Popular

FuturesAI: The Jigsaw Puzzle of Cryptocurrency Trading

May 2, 2024

Learn more about converting HT to HTX tokens

March 9, 2024

Chainlink takes on Dogecoin on key indicators as mysterious whale pushes LINK upwards.

February 12, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.