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The Bitcoin Premiums On South Korean Crypto Exchanges Hit Two-Year Highs
Summary: The Bitcoin premiums on South Korean crypto exchanges hit two-year highs, according to the data from scolkg.com. For example, compared with Binance, Upbit, the South Korean C2C exchange has a Bitcoin premium of 4.15%, or approximately $1328.97, the highest since the beginning of 2018. Yesterday, BTC quickly rebounded after falling $5,000, the shocks occurred during non-U.S. working ...
The Bitcoin premiums on South Korean crypto exchanges hit two-year highs, according to the data from scolkg.com. For example, compared with Binance, Upbit, the South Korean C2C exchange has a Bitcoin premium of 4.15%, or approximately $1328.97, the highest since the beginning of 2018.
Yesterday, BTC quickly rebounded after falling $5,000, the shocks occurred during non-U.S. working hours. Andrew Tu, an executive at the quantitative company Efficient Frontier, told Coindesk: "It is clear that the greatest selling happened during the Asia trading hours."
Jason Kim, Chief Investment Officer of Tokyo investment company Anchor Value, pointed out that the lack of institutional investors in South Korea leads to market driving forces dominated by retail customers, who use exchanges more frequently and are prone to FOMO sentiment, retail transactions that seeking arbitrage opportunities may cause short-term market fluctuations.
By Mary Liu
Tags: Anchor Value,Binance,Bitcoin,Crypto Exchanges,Efficient Frontier,Institutional Investor,South Korea,Upbit
Link: The Bitcoin Premiums On South Korean Crypto Exchanges Hit Two-Year Highs [Copy]
