Low Prices in the Korea Stock Exchange
South Korea is known for its crypto. However, or Kimchi Premium ort may be disappearing slowly. Korean stock markets crypto prices are below the world average. This shows that the stock market and the stock market in Korea has also declined.
Bithumb, which is one of the leading South Korean stock markets, normally trades around $ 3,67 or slightly below the world BitcoinHe can also accept a price of $ 3,615. Also bitcoin is priced at $ 3,611 in Coinone, while the price in UpBit in Korea is $ 3,652. This data also shows us how the situation in Korea is in denial.
Other than Bitcoin Altcom days also show the same downward trend as bitcoin. upbit'T, XRP currently being traded at $ .3254, I Etherea also sold at a transaction price of $ 121.52. This is equal to 1% of global stock market and market prices. That's why many people want to trade at these low prices, either arbitrage or that stock exchange.
Open Market Status
This decline in Korea crypto coins also seems to be part of a long-term decline. November Reports; cryptocompar toStated that all transactions made to the Korean Won account as 50% of the crypto volume. However, now in the market range report
In In the Korean Won, trading has decreased significantly compared to the previous month, “he says.
Part of the high volumes of November may be due to kısm special events b designed to increase efficiency and trade in markets in Korean stock exchanges. To keep high figures and the mass 'super airdrop festival', '(1, 2 and 3) based games' and 'special choice gift' Looks like it comes from publicity events.
Korean Stock Exchanges Bitcoin is Now Cheaper than World Prices
According to the latest report, transactions in Korean currencies decreased by 78% compared to November, while volumes in other currencies grew. At the same time, Japan, on the other hand, showed the largest increase with a 28% increase.
The data show a sharp drop compared to last year's figures, when South Korean markets saw 17% higher than world prices. Bithumb, one of the largest markets in Korea; As reported in August, the average price was more than a thousand dollars. For those who have access to Korea and global banking, the difference could be an easy opportunity for arbitrage.
Part of this decline can be attributed to the sanctioning actions of South Korean officials, which have largely followed the leadership of the US Securities and Exchange Commission. Another possibility is that in Bitcoin and other crypto currencies, ultimately there is a feeling of insecurity.
If the winter is just beginning to hit Korea, it could be a sign of more snowstorms.
Source: Cryptobriefing