Bitcoin

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<ul class="news-points">
 <li>Korean crypto exchanges saw a sharp decline in trading volume.</li>
 <li>Bitcoin Kimchi Premium plummeted, indicating cooling demand.</li>
 <li>Bithumb retained market share despite the overall downturn. </li>
</ul>
Kaiko’s research <a href="https://research.kaiko.com/insights/will-the-launch-of-spot-eth-etf-be-sell-the-news-event" target="_blank" rel="noopener noreferrer nofollow">data reveals</a> that the average daily trading volume on the Upbit crypto exchange fell by $860 million in June, a 76% decrease compared to its Q1 value. Bithumb also saw a 70% decline in trading volumes, with both exchanges reflecting the subdued mood of the Korean cryptocurrency market.
In comparison to crypto exchanges from other jurisdictions, Coinbase’s average daily trading volume dropped by 40%. Bullish reported a 38% decline, while Bybit experienced a modest 8% drop in average daily trading volume over the period under consideration.
Analysts attribute the significant decline in trading volume among Korea-based crypto exchanges to potential regulatory adjustments. The Korean government recently implemented the Virtual Asset User Protection Act, raising concerns among crypto users who suspect a potential mass delisting could be imminent.
Notably, the <a href="https://coinmarketcap.com/academy/glossary/kimchi-premium" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Kimchi Premium</a>, which represents the price difference between BTC in Korean and global m…
The post <a href="https://coinedition.com/bitcoin-kimchi-premium-collapses-as-korean-crypto-market-cools/" rel="noopener noreferrer nofollow">Bitcoin Kimchi Premium Collapses as Korean Crypto Market Cools</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin Kimchi Premium Collapses as Korean Crypto Market Cools

Coin Edition

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