• On Sunday, November 19, 2023, the South Korean won constituted 3.68% of all Bitcoin (BTC) transactions that occurred in the previous 24 hours.

2023년 11월 19일 일요일, 한국 원화는 지난 24시간 동안 발생한 전체 비트코인(BTC) 거래의 3.68%를 차지했습니다.

• While Dogecoin transactions with the South Korean won made up 12.03%, the won also accounted for 18.60% of AVAX transactions on Saturday.
• The high trading volume and premiums in South Korea highlight strong demand for cryptocurrencies in the region. Additionally, these price differences are thought to potentially offer significant arbitrage opportunities for careful traders.

한국의 높은 거래량과 프리미엄은 이 지역의 암호화폐에 대한 강력한 수요를 강조합니다. 또한 이러한 가격 차이는 신중한 거래자에게 잠재적으로 상당한 차익 거래 기회를 제공하는 것으로 생각됩니다.

The significant increase in crypto volumes in South Korea in recent days causes prices to trade at a premium: How many dollars is Bitcoin in South Korea?

Significant Increase in Crypto Volumes in South Korea

Recent data reveals a notable growth in the crypto economy over the past month, with a significant portion of this growth attributed to trading activities originating from South Korea. For instance, on Sunday, November 19, 2023, the South Korean won constituted 3.68% of all Bitcoin (BTC) transactions that occurred in the previous 24 hours.

최근 데이터에 따르면 지난 한 달 동안 암호화폐 경제가 눈에 띄게 성장했으며, 이러한 성장의 상당 부분은 한국에서 발생한 거래 활동에 기인합니다. 예를 들어, 2023년 11월 19일 일요일 한국 원화는 지난 24시간 동안 발생한 전체 비트코인(BTC) 거래의 3.68%를 차지했습니다.

According to the data, Ethereum (ETH) transactions represented approximately 1.43% when paired with won, and a significant portion of Solana (SOL) transactions, about 9.66%, was also conducted with won. South Korea’s trading volume has become a significant force, with Upbit processing $1.41 billion in transactions in the last 24 hours alone, making it the 11th largest cryptocurrency exchange by volume for the weekend.

While Dogecoin transactions with the South Korean won made up 12.03%, the won also accounted for 18.60% of AVAX transactions on Saturday. Leading exchanges in South Korea, especially Upbit and Bithumb, are experiencing notable price premiums. As of writing on Sunday, Bitcoin’s unit price on Upbit was set at $37,950, indicating an almost $1,300 premium over the global average of $36,700. Bithumb’s BTC prices are similarly high, with Bitcoin priced at $37,978 per unit.

Ethereum Also Trades at a Premium

이더리움도 프리미엄으로 거래됩니다

While the global price of Ethereum is $1,966, it is traded at $2,031 and $2,032 on Upbit and Bithumb, respectively. Bithumb ranks as the 15th largest exchange by volume and has conducted transactions exceeding $1 billion in the last 24 hours. This trend continues on Coinone, where Bitcoin is traded at $38,000 per unit, and Ethereum is traded at $2,034 per unit, exceeding the global average of $1,966.

이더리움 글로벌 가격은 1,966달러인데, 업비트와 빗썸에서는 각각 2,031달러, 2,032달러에 거래되고 있다. 빗썸은 거래량 기준으로 15번째로 큰 거래소이며 지난 24시간 동안 10억 달러가 넘는 거래를 수행했습니다. 이러한 추세는 코인원에서도 계속되고 있으며, 비트코인은 단위당 38,000달러에 거래되고, 이더리움은 단위당 2,034달러에 거래되어 글로벌 평균인 1,966달러를 초과합니다.

While most other cryptocurrencies on these platforms closely align with global averages, Solana’s price is approximately $2 higher. The high trading volume and premiums in South Korea underscore strong demand for cryptocurrencies in the region. Additionally, these price differences are thought to potentially offer significant arbitrage opportunities for careful traders.

The post Bitcoin Price Trades at a Higher Level in South Korea: How Did This Happen? appeared first on COINOTAG NEWS.

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