20 Tuesday April 2021
  • About
  • Advertise
  • Submit Press Release
  • Contact Us
Cryptocurrency News | Bitcoin News | Cryptonews | DC Forecasts.com
  • News
    • Bitcoin News
      • Bitcoin News
      • Bitcoin Cash News
      • Bitcoin SV News
      • Bitcoin Scams
    • Altcoin News
      • Ethereum News
      • Litecoin News
      • Ripple News
      • Libra News
      • Coinbase Stock News
      • Binance News
      • Cardano News
      • Huobi News
      • Binance Coin News
      • Coinbase News
      • ChainLink News
      • IOTA News
      • Monero News
      • Ethereum Classic News
      • Dash News
      • Stellar News
      • Tether News
      • Tezos News
      • Tron News
      • Vechain News
      • Dogecoin News
      • Cosmos News
      • EOS News
      • NEM News
      • NEO News
      • Nexo News
      • Zcash News
      • UNUS News
      • USD Coin News
      • MECX Token News
      • Coronavirus News
    • Exchange News
    • Analysis
    • Blockchain News
    • Regulation
    • Press Releases
    • DC Forecasts
      • DC Forecasts Announcements
      • About
      • Daily News Video
      • EDUCATION & RESOURCES
      • Blockchain Archive
  • Education
    • Coronavirus Statistics
    • Cryptocurrency Education
      • 0x
      • Augur
      • Aurora
      • Basic Attention Token
      • Binance Coin
      • Bitcoin BTC
      • Bitcoin Cash
      • BITCOIN DIAMOND
      • Bitcoin Gold
      • Bitcoin SV
      • BitTorrent
      • Cardano
      • Chainlink
      • Cosmos
      • Crypto.com Chain
      • DASH
      • Decred
      • Dogecoin
      • Egretia
      • Energi
      • EOS
      • Ethereum
      • Ethereum Classic
      • Holo
      • Huobi Token
      • Litecoin
      • IOTA
      • Ripple
      • Stellar
      • Tether
      • Zcash
  • Markets
    • PriceIndexes
      • Bitcoin Price
      • Ethereum Price
      • Libra Price
      • Binance Price
      • Bitcoin Cash Price
      • Bitcoin SV Price
      • Cardano Price
      • IOTA Price
      • Crypto.com Chain Price
      • Coinbase Stock Price
      • Dash Price
      • Dogecoin Price
      • EOS Price
      • Ethereum Classic Price
      • NEO Price
      • Vechain Price
      • Litecoin Price
      • Huobi Price
      • Maker Price
      • Chainlink Price
      • Monero Price
      • Cosmos Price
      • NEM Price
      • Ontology Price
      • Ripple Price
      • Stellar Price
      • Tether Price
      • Tezos Price
      • Tron Price
      • UNUS SED LEO Price
      • USD Coin Price
      • Zcash Price
    • Cryptocurrency Calculator
      • Bitcoin Calculator
      • Ethereum Calculator
      • Litecoin Calculator
      • Ripple Calculator
      • Dash Calculator
      • Dogecoin Calculator
      • Stellar Calculator
      • Monero Calculator
      • Binance Calculator
      • Cardano Calculator
      • Huobi Calculator
      • Binance Coin Calculator
      • Chainlink Calculator
      • IOTA Calculator
      • Ethereum Classic Calculator
      • Tether Calculator
      • Tezos Calculator
      • Tron Calculator
      • Vechain Calculator
      • Cosmos Calculator
      • EOS Calculator
      • NEM Calculator
      • NEO Calculator
      • Nexo Calculator
      • Zcash Calculator
      • USD Coin Calculator
      • UNUS SED LEO Calculator
    • Reviews
    • Cryptocurrency Exchanges
      • United Kingdom
      • USA
      • Canada
      • South Korea
      • Israel
      • Singapore
      • Australia
      • Mexico
      • South Africa
      • Japan
      • India
  • Directory
    • Bitcoin Businesses
    • Bitcoin Broker
    • Bitcoin Casinos
  • Events
    • Blockchain Events News
  • More
    • NewsletterDaily or Weekly
      • Press Release
      • Blockchain
      • Cryptocurrency Exchange
      • Bitcoin
      • Bitcoin Scams
      • Bitcoin SV
      • Ethereum
      • Ethereum Classic
      • Litecoin
      • Libra
      • Ripple
      • Coinbase
      • Huobi
      • IOTA
      • Monero
      • MECX Token
      • Cardano
      • NEO
      • NEM
      • ChainLink
      • Tether
      • Stellar
      • Cosmos
      • Tron
      • Dogecoin
      • UNUS
      • Tezos
      • EOS
      • Dash
      • USD Coin
      • Nexo
      • DC Forecasts
      • Vechain
    • Mining Calculator
      • Bitcoin Mining Calculator
    • WidgetsFree
      • RSS
      • Generator
    • Press Release
      • Bitcoin Press Release
Newsletter
Cryptocurrency News | Bitcoin News | Cryptonews | DC Forecasts.com
No Result
View All Result
20 Tuesday April 2021
Newsletter
  • News
    • Bitcoin News
      • Bitcoin News
      • Bitcoin Cash News
      • Bitcoin SV News
      • Bitcoin Scams
    • Altcoin News
      • Ethereum News
      • Litecoin News
      • Ripple News
      • Libra News
      • Coinbase Stock News
      • Binance News
      • Cardano News
      • Huobi News
      • Binance Coin News
      • Coinbase News
      • ChainLink News
      • IOTA News
      • Monero News
      • Ethereum Classic News
      • Dash News
      • Stellar News
      • Tether News
      • Tezos News
      • Tron News
      • Vechain News
      • Dogecoin News
      • Cosmos News
      • EOS News
      • NEM News
      • NEO News
      • Nexo News
      • Zcash News
      • UNUS News
      • USD Coin News
      • MECX Token News
      • Coronavirus News
    • Exchange News
    • Analysis
    • Blockchain News
    • Regulation
    • Press Releases
    • DC Forecasts
      • DC Forecasts Announcements
      • About
      • Daily News Video
      • EDUCATION & RESOURCES
      • Blockchain Archive
  • Education
    • Coronavirus Statistics
    • Cryptocurrency Education
      • 0x
      • Augur
      • Aurora
      • Basic Attention Token
      • Binance Coin
      • Bitcoin BTC
      • Bitcoin Cash
      • BITCOIN DIAMOND
      • Bitcoin Gold
      • Bitcoin SV
      • BitTorrent
      • Cardano
      • Chainlink
      • Cosmos
      • Crypto.com Chain
      • DASH
      • Decred
      • Dogecoin
      • Egretia
      • Energi
      • EOS
      • Ethereum
      • Ethereum Classic
      • Holo
      • Huobi Token
      • Litecoin
      • IOTA
      • Ripple
      • Stellar
      • Tether
      • Zcash
  • Markets
    • PriceIndexes
      • Bitcoin Price
      • Ethereum Price
      • Libra Price
      • Binance Price
      • Bitcoin Cash Price
      • Bitcoin SV Price
      • Cardano Price
      • IOTA Price
      • Crypto.com Chain Price
      • Coinbase Stock Price
      • Dash Price
      • Dogecoin Price
      • EOS Price
      • Ethereum Classic Price
      • NEO Price
      • Vechain Price
      • Litecoin Price
      • Huobi Price
      • Maker Price
      • Chainlink Price
      • Monero Price
      • Cosmos Price
      • NEM Price
      • Ontology Price
      • Ripple Price
      • Stellar Price
      • Tether Price
      • Tezos Price
      • Tron Price
      • UNUS SED LEO Price
      • USD Coin Price
      • Zcash Price
    • Cryptocurrency Calculator
      • Bitcoin Calculator
      • Ethereum Calculator
      • Litecoin Calculator
      • Ripple Calculator
      • Dash Calculator
      • Dogecoin Calculator
      • Stellar Calculator
      • Monero Calculator
      • Binance Calculator
      • Cardano Calculator
      • Huobi Calculator
      • Binance Coin Calculator
      • Chainlink Calculator
      • IOTA Calculator
      • Ethereum Classic Calculator
      • Tether Calculator
      • Tezos Calculator
      • Tron Calculator
      • Vechain Calculator
      • Cosmos Calculator
      • EOS Calculator
      • NEM Calculator
      • NEO Calculator
      • Nexo Calculator
      • Zcash Calculator
      • USD Coin Calculator
      • UNUS SED LEO Calculator
    • Reviews
    • Cryptocurrency Exchanges
      • United Kingdom
      • USA
      • Canada
      • South Korea
      • Israel
      • Singapore
      • Australia
      • Mexico
      • South Africa
      • Japan
      • India
  • Directory
    • Bitcoin Businesses
    • Bitcoin Broker
    • Bitcoin Casinos
  • Events
    • Blockchain Events News
  • More
    • NewsletterDaily or Weekly
      • Press Release
      • Blockchain
      • Cryptocurrency Exchange
      • Bitcoin
      • Bitcoin Scams
      • Bitcoin SV
      • Ethereum
      • Ethereum Classic
      • Litecoin
      • Libra
      • Ripple
      • Coinbase
      • Huobi
      • IOTA
      • Monero
      • MECX Token
      • Cardano
      • NEO
      • NEM
      • ChainLink
      • Tether
      • Stellar
      • Cosmos
      • Tron
      • Dogecoin
      • UNUS
      • Tezos
      • EOS
      • Dash
      • USD Coin
      • Nexo
      • DC Forecasts
      • Vechain
    • Mining Calculator
      • Bitcoin Mining Calculator
    • WidgetsFree
      • RSS
      • Generator
    • Press Release
      • Bitcoin Press Release
Cryptocurrency News | Bitcoin News | Cryptonews | DC Forecasts.com
No Result
View All Result
Bitcoin 24h
$54,496.40
-4.24%
Bitcoin 24h

$54,496.40
-2,310.21
-4.24%
Ethereum 24h
$2,101.23
-6.44%
Ethereum 24h

$2,101.23
-135.26
-6.44%
XRP 24h
$1.26
-11.47%
XRP 24h

$1.26
-0.14
-11.47%
Bitcoin Cash 24h
$862.34
-15.64%
Bitcoin Cash 24h

$862.34
-134.88
-15.64%
Chainlink 24h
$34.81
-15.27%
Chainlink 24h

$34.81
-5.31
-15.27%
Stellar 24h
$0.49
-11.44%
Stellar 24h

$0.49
-0.06
-11.44%
Cardano 24h
$1.16
-11.24%
Cardano 24h

$1.16
-0.13
-11.24%
Bitcoin SV 24h
$285.53
-14.61%
Bitcoin SV 24h

$285.53
-41.71
-14.61%
Litecoin 24h
$244.19
-11.79%
Litecoin 24h

$244.19
-28.79
-11.79%
Tezos 24h
$5.16
-18.59%
Tezos 24h

$5.16
-0.96
-18.59%
EOS 24h
$6.29
-14.26%
EOS 24h

$6.29
-0.90
-14.26%
Monero 24h
$336.74
-2.16%
Monero 24h

$336.74
-7.28
-2.16%
Neo 24h
$101.97
-16.95%
Neo 24h

$101.97
-17.28
-16.95%
TRON 24h
$0.12
-17.10%
TRON 24h

$0.12
-0.02
-17.10%
IOTA 24h
$1.98
-17.74%
IOTA 24h

$1.98
-0.35
-17.74%
Dash 24h
$282.34
-11.25%
Dash 24h

$282.34
-31.75
-11.25%
Ethereum Classic 24h
$31.46
-16.20%
Ethereum Classic 24h

$31.46
-5.10
-16.20%
Zcash 24h
$215.80
-17.67%
Zcash 24h

$215.80
-38.13
-17.67%
NEM 24h
$0.35
-12.86%
NEM 24h

$0.35
-0.05
-12.86%
Dogecoin 24h
$0.39
+18.55%
Dogecoin 24h

$0.39
+0.07
+18.55%
Binance USD 24h
$1.00
-0.00%
Binance USD 24h

$1.00
-0.00
-0.00%
Crypto.com Coin 24h
$0.18
-12.04%
Crypto.com Coin 24h

$0.18
-0.02
-12.04%
Cosmos 24h
$18.22
-16.59%
Cosmos 24h

$18.22
-3.02
-16.59%
Huobi Token 24h
$16.84
-5.14%
Huobi Token 24h

$16.84
-0.87
-5.14%
Maker 24h
$3,341.84
-4.15%
Maker 24h

$3,341.84
-138.62
-4.15%
Ontology 24h
$1.98
-17.60%
Ontology 24h

$1.98
-0.35
-17.60%
Tether 24h
$1.00
-0.00%
Tether 24h

$1.00
-0.00
-0.00%
UNUS SED LEO 24h
$1.97
-11.34%
UNUS SED LEO 24h

$1.97
-0.22
-11.34%
USD Coin 24h
$1.00
+0.02%
USD Coin 24h

$1.00
+0.00
+0.02%
VeChain 24h
$0.22
-15.53%
VeChain 24h

$0.22
-0.03
-15.53%
ADVERTISEMENT

Kimchi Premium Fades Away, BTC Price Drops In An Instant

Stefan by Stefan
07/04/2021
in Bitcoin News
2 min read
0
Kimchi Premium Fades, BTC, bitcoin, south korea
166
SHARES
2.1k
VIEWS
Share on FacebookTwitterWhatsappGmail
ADVERTISEMENT
ADVERTISEMENT

The kimchi premium fades away and the BTC price dropped below $58K with the analysts saying the reduction could have had an impact on it so let’s read more in our latest BTC news today.

The Kimchi premium fades away and traders found a way to arbitrage in and out of South Korea with the price of BTC falling to $57,370 which is a 2% drop in the past 24 hours. It is now marginally away from the $60K point that it had had time holding. The premium- which is the highest price that BTC trades in Korea has dropped today while it was caused by the high demand in Korea in combination with the difficulty of trading in and out of the country. Bitcoin’s price reached as high as $70K in the country but it is now below $58K as with the rest of the world. The CEO of CryptoQuant Ki-Young Ju added:

 “It seems someone finally figured out how to arbitrage this Kimchi premium opportunity. The trading volume in [the] 30 min time frame on [Upbit], the largest Korean exchange, was bigger than Binance’s. A drop seems related to Kimchi pullback.”

kimchi premium
The Kimchi Premium has dropped significantly. Image CryptoQuant.

Arbitrage refers to the trading method which sees trades purchase an asset where it is selling at a lower price and sell it where it is selling at a higher price. in this case, it would entail buying BTC outside of the country and selling it on the Korean market. This technique helps to balance out the supply and demand and to bring the prices closer together on different exchanges. According to the data from CryptoQuant, the premium dropped from 20% to as low as 11% in two hours.

BTC/WON
Bitcoin (BTC) South Korean Won on Bithumb. Source Tradingview.com

The Kimchi Premium builds up because of the strict capital controls in Korea which are making it very hard to send amounts of the Korean won outside of the country, equaling to low chances of making a profit from the arbitrage opportunity and make the money into dollars. There are also high reporting requirements for taking amounts of money out of the country. However, back in 2018 Sam Bankman Fried used plenty of intermediaries and Banks in Japan to create a way of selling BTC in Korea and get the money out of the country, managing to move up to $25 million per day.

ADVERTISEMENT

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Tags: bitcoin dropbitcoin priceBTCbtc price dropskimchikimchi premiumSouth Korea
Share66Tweet42SendShare17
ADVERTISEMENT
Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

Related Posts

Chinese Regulators Claim, btc, bitcoin, alternative, regulation
Bitcoin News

Chinese Regulators Claim BTC Is An “Alternative Investment”

19/04/2021
another steep correction, altcoins, btc, bitcoin, eth, price, market
Altcoin News

Another Steep Correction Makes The Crypto Market Plummet By 8%

19/04/2021
BTC Transaction Fees Surge, bitcoin, hash, exahash
Bitcoin News

BTC Transaction Fees Surge To $47 While Market Crashes: Analysis

18/04/2021
btc dips below $52K
Altcoin News

BTC Dips Below $52K Amid US Treasury Rumors: Price Analysis

18/04/2021
Pakistani Company, btc, bitcoin, treasury, yellen
Bitcoin News

Pakistani Company Sold Fake KYC Docs To Russian Trolls For BTC

16/04/2021
turkey banned crypto
Bitcoin News

Turkey Banned Crypto Payments, BTC Drops On The News

16/04/2021

Discussion about this post

ADVERTISEMENT

  • Trending
  • Comments
  • Latest

VeChain Price Could Hit $9 In The Near Future: Analysis

09/02/2020
will tron reach

Will Tron Reach $1 In The Long Run: TRX Coin Price Prediction

29/04/2020

Will Cardano Reach $1,000 By 2025: Expert Review

11/05/2018
digital euro project

Digital Euro Project Favors IOTA Network More Than ETH Or XRP

21/06/2020

What Is Altcoin?

0
what is ethereum|What Is Etherum?

What Is Etherum?

0
What Is Cryptocurrency?

What Is Cryptocurrency?

0
thanksgiving weekend, bitcoin, btc, price

What Is Bitcoin?

0
Chinese Regulators Claim, btc, bitcoin, alternative, regulation

Chinese Regulators Claim BTC Is An “Alternative Investment”

19/04/2021
BNB Regains 20%, binance, price, exchange, zhao

BNB Regains 20% In One Day But What’s Behind The Strong Recovery?

19/04/2021
another steep correction, altcoins, btc, bitcoin, eth, price, market

Another Steep Correction Makes The Crypto Market Plummet By 8%

19/04/2021
time magazine, cro, token, crypto.com,

Time Magazine Starts Accepting Crypto Payments For Digital Subscriptions

19/04/2021
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Facebook Twitter Google+ Instagram Youtube
Cryptocurrency News | Bitcoin News | Cryptonews | DC Forecasts.com

DC Forecasts provides a comprehensive source of the latest news about cryptocurrency news daily. Read more on our about us page for details.

News By Topic

Quick Search

No Result
View All Result

DC Forecasts Services

  • About
  • Advertise
  • Submit Press Release
  • Press & Media
  • Events
  • Careers
  • Partners
  • Free Widgets
  • Contact Us

© 2020 DC Forecasts - All Rights Reserved | Terms & Conditions | Privacy Policy | Cookies | Comments Policy | Sitemap | Newsletters | AdChoices

No Result
View All Result
  • News
    • Bitcoin News
      • Bitcoin News
      • Bitcoin Cash News
      • Bitcoin SV News
      • Bitcoin Scams
    • Altcoin News
      • Ethereum News
      • Litecoin News
      • Ripple News
      • Libra News
      • Coinbase Stock News
      • Binance News
      • Cardano News
      • Huobi News
      • Binance Coin News
      • Coinbase News
      • ChainLink News
      • IOTA News
      • Monero News
      • Ethereum Classic News
      • Dash News
      • Stellar News
      • Tether News
      • Tezos News
      • Tron News
      • Vechain News
      • Dogecoin News
      • Cosmos News
      • EOS News
      • NEM News
      • NEO News
      • Nexo News
      • Zcash News
      • UNUS News
      • USD Coin News
      • MECX Token News
      • Coronavirus News
    • Exchange News
    • Analysis
    • Blockchain News
    • Regulation
    • Press Releases
    • DC Forecasts
      • DC Forecasts Announcements
      • About
      • Daily News Video
      • EDUCATION & RESOURCES
      • Blockchain Archive
  • Education
    • Coronavirus Statistics
    • Cryptocurrency Education
      • 0x
      • Augur
      • Aurora
      • Basic Attention Token
      • Binance Coin
      • Bitcoin BTC
      • Bitcoin Cash
      • BITCOIN DIAMOND
      • Bitcoin Gold
      • Bitcoin SV
      • BitTorrent
      • Cardano
      • Chainlink
      • Cosmos
      • Crypto.com Chain
      • DASH
      • Decred
      • Dogecoin
      • Egretia
      • Energi
      • EOS
      • Ethereum
      • Ethereum Classic
      • Holo
      • Huobi Token
      • Litecoin
      • IOTA
      • Ripple
      • Stellar
      • Tether
      • Zcash
  • Markets
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Libra Price
      • Binance Price
      • Bitcoin Cash Price
      • Bitcoin SV Price
      • Cardano Price
      • IOTA Price
      • Crypto.com Chain Price
      • Coinbase Stock Price
      • Dash Price
      • Dogecoin Price
      • EOS Price
      • Ethereum Classic Price
      • NEO Price
      • Vechain Price
      • Litecoin Price
      • Huobi Price
      • Maker Price
      • Chainlink Price
      • Monero Price
      • Cosmos Price
      • NEM Price
      • Ontology Price
      • Ripple Price
      • Stellar Price
      • Tether Price
      • Tezos Price
      • Tron Price
      • UNUS SED LEO Price
      • USD Coin Price
      • Zcash Price
    • Cryptocurrency Calculator
      • Bitcoin Calculator
      • Ethereum Calculator
      • Litecoin Calculator
      • Ripple Calculator
      • Dash Calculator
      • Dogecoin Calculator
      • Stellar Calculator
      • Monero Calculator
      • Binance Calculator
      • Cardano Calculator
      • Huobi Calculator
      • Binance Coin Calculator
      • Chainlink Calculator
      • IOTA Calculator
      • Ethereum Classic Calculator
      • Tether Calculator
      • Tezos Calculator
      • Tron Calculator
      • Vechain Calculator
      • Cosmos Calculator
      • EOS Calculator
      • NEM Calculator
      • NEO Calculator
      • Nexo Calculator
      • Zcash Calculator
      • USD Coin Calculator
      • UNUS SED LEO Calculator
    • Reviews
    • Cryptocurrency Exchanges
      • United Kingdom
      • USA
      • Canada
      • South Korea
      • Israel
      • Singapore
      • Australia
      • Mexico
      • South Africa
      • Japan
      • India
  • Directory
    • Bitcoin Businesses
    • Bitcoin Broker
    • Bitcoin Casinos
  • Events
    • Blockchain Events News
  • More
    • Newsletter
      • Press Release
      • Blockchain
      • Cryptocurrency Exchange
      • Bitcoin
      • Bitcoin Scams
      • Bitcoin SV
      • Ethereum
      • Ethereum Classic
      • Litecoin
      • Libra
      • Ripple
      • Coinbase
      • Huobi
      • IOTA
      • Monero
      • MECX Token
      • Cardano
      • NEO
      • NEM
      • ChainLink
      • Tether
      • Stellar
      • Cosmos
      • Tron
      • Dogecoin
      • UNUS
      • Tezos
      • EOS
      • Dash
      • USD Coin
      • Nexo
      • DC Forecasts
      • Vechain
    • Mining Calculator
      • Bitcoin Mining Calculator
    • Widgets
      • RSS
      • Generator
    • Press Release
      • Bitcoin Press Release

© 2020 DC Forecasts - All Rights Reserved | Terms & Conditions | Privacy Policy | Cookies | Comments Policy | Sitemap | Newsletters | AdChoices