Recent data reveals that South Korea’s crypto trading volume has surged in recent months, with two exchanges, Upbit and Bithumb, contributing over 10% to the global trading volume as of Jan. 4, 2024. Additionally, while the global price for bitcoin hovers around $43,356 per unit, in South Korea, it commands a premium, trading at approximately…
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Source: AdobeStock / Rafael Henrique Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. In this edition: OKX and Bybit Capitalize as Binance’s Market Share Declines Safe Partners with Sygnum Bank and Coincover, Launches Safe{RecoveryHub} BNB Chain Launches DAU Incentive Program, Monthly Prizes…
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Based on recent data, the surge of bitcoin beyond the $41,000 mark has triggered a significant increase in trading activity originating from South Korea. Alongside this heightened volume, bitcoin is currently commanding a $1,500 premium on major South Korean cryptocurrency exchanges, including Upbit, Bithumb, Korbit, and Coinone. South Korea’s ‘Kimchi Premium’ Returns Amid 2023’s End-of-Year…
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Dunamu, the operator of the South Korean crypto exchange Upbit, recently said it had realized an operating profit amounting to $79 million in the third quarter of 2023. Virtual asset valuation losses contributed to the 81.6% drop in the operator’s net profit for the period. Operating Profit Down by Nearly 40% In the third quarter…
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Source: piter2121/Adobe Dunamu, the South Korean operator of the Upbit crypto exchange, has seen year-on-year profits fall by a staggering 82% in the third quarter of FY2023. The South Korean media outlet Business Post reported that Dunamu published its financial report for the third quarter of 2023 on November 28. The report’s highlights included the…
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Recent data reveals the crypto economy has experienced notable growth over the past month, with a substantial portion of its trading activity originating from South Korea. As an illustration, on Saturday, November 18, 2023, the Korean won accounted for 3.53% of all bitcoin (BTC) trades in the previous 24 hours. Bitcoin Price Soars $1,300 Above…
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Local reports suggest that Bithumb, a prominent crypto exchange in South Korea, is contemplating a public listing in 2025. Insider information indicates that Bithumb is considering a debut on Kosdaq and might transition to the Korea Exchange (KOSPI) platform in the future. Bithumb Targets Kosdaq Listing; Chooses Samsung Securities as Its Fund Manager According to…
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Source: vladim_ka/Adobe The head of Dunamu, operator of South Korea’s market-leading Upbit crypto exchange, has been found not guilty of manipulating platform data. Per Chosun Ilbo, the nation’s Supreme Court acquitted the Dunamu Chairman Song Chi-hyung, of fraud charges under the Aggravated Punishment Act for Specific Economic Crimes. Prosecutors alleged Song and a group of…
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South Korean crypto traders are more inclined to invest in high-risk, high-reward altcoins than their American counterparts, according to a new report. The share of major cryptocurrencies like bitcoin and ethereum in the trading volumes on the largest Korean exchange is much smaller than the one registered on the leading U.S. exchange, the research indicates.…
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Bitcoin has soared, doubling its value since the start of the year. Yet, intriguingly, the famed “Kimchi premium” in South Korea remains absent in this current surge of bullish activity. This is a notable deviation from previous bull markets, where the phenomenon was prominently observed. In fact, this time around, BTC prices in South Korea…
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