The premium, which refers to the price percentage gap between bitcoin in South Korea and elsewhere, has been in a steady decline since mid-April. CryptoQuant’s data compares the bitcoin price in South Korea with that of the U.S. market.
As South Korea has a limited local supply of crypto, a surge in demand often leads to a wider gap. In March, the premium reached a high of 11.44% after bitcoin renewed its all-time high at the time.
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