'Kimchi Premium' Reaches Two-Year High

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day. The Kimchi premium crossed a two year high on Thursday. Kimchi premium refers to the difference in Bitcoin prices on Korean exchanges compared to global counterparts. And Bitcoin is currently trading at a 10% premium in South Korea as of Asian morning hours. Bitcoin trades just above six, $6000 on most global exchanges, but it commands over 93 million wan on Korean exchanges worth over $71,000 at current rates. The arbitrage was popularized by Saman been freed and involves buying Bitcoin on a global exchange and then selling it on a Korean exchange for profit. It's not as easy as it. Though capital controls in Korea make it very difficult for foreigners to withdraw large amounts of money from the country. Meaning that big funds can't capitalize on the trade and smaller investors might not have the infrastructure. That's it for today's chart of the day. I'm Jen Sasi. We'll see you next time to unpack more of the data behind top news stories.The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day. The Kimchi premium crossed a two year high on Thursday. Kimchi premium refers to the difference in Bitcoin prices on Korean exchanges compared to global counterparts. And Bitcoin is currently trading at a 10% premium in South Korea as of Asian morning hours. Bitcoin trades just above six, $6000 on most global exchanges, but it commands over 93 million wan on Korean exchanges worth over $71,000 at current rates. The arbitrage was popularized by Saman been freed and involves buying Bitcoin on a global exchange and then selling it on a Korean exchange for profit. It's not as easy as it. Though capital controls in Korea make it very difficult for foreigners to withdraw large amounts of money from the country. Meaning that big funds can't capitalize on the trade and smaller investors might not have the infrastructure. That's it for today's chart of the day. I'm Jen Sasi. We'll see you next time to unpack more of the data behind top news stories.