Bitcoin is in Korea
On the way of bitcoin soaring, some countries seem to be more excited than others. The most notable is Japan, which recently recognized Bitcoin as a legal payment method. Bitcoin is becoming more and more popular in Japan, and the transaction volume of Bitcoin is also constantly hitting new highs.
However, another country that has entered people's field of vision is South Korea, where the bitcoin market is also growing rapidly.
South Korea's demand for bitcoin is very strong, and now the transaction price of bitcoin in the country is 44% higher than that of the US dollar. The local bitcoin price is currently 43 1 1.720 won, about 3,860 US dollars, and the highest is 4,246 US dollars. Moreover, the premium of Japanese bitcoin has reached 16%, which makes investors more optimistic about this virtual currency.
In the past, the transaction volume of Bitcoin won has been rising continuously, and it is currently in the fourth place, ranking behind the transaction volume of Bitcoin RMB. In the past 24 hours, the BTC/ won trading volume of Bitcoin Exchange has exceeded 234 million US dollars, which is quite amazing.
Political turmoil
So why is the demand for Bitcoin soaring in South Korea? Although South Korea is a bitcoin-friendly place with many exchanges and a small amount of BTM, there has been no significant positive news about bitcoin regulatory policies or infrastructure in South Korea recently.
However, the political environment in South Korea is in an uncertain state. Just like our previous experience, Bitcoin will flourish in the face of political and economic uncertainties. The decentralized nature of Bitcoin endows it with a safe-haven property, which makes Bitcoin completely independent of any supervision and control from the government or entities.
Sandy Liang, Director of Currency Watch Operations, told Bitcoin:
"One of the reasons may be the tension between South Korea and North Korea. Perhaps it is this reason that led the Korean people to consider Bitcoin as a reserve currency under unexpected circumstances. "
In the face of potential conflicts, it is normal for many people to want to protect their savings, because historically, under these circumstances, the national currency may depreciate rapidly.
Ethereum is in Korea.
In South Korea, it's not just Bitcoin that attracts attention. ETH is also killing the quartet in this country. Now the trading volume of ETH won accounts for 30% of the total trading volume of ETH in the world, making it the second largest trading pair after Bitcoin.
Very similar to Bitcoin, the price premium of ETH won is also very significant compared with the dollar price. At present, the transaction price of ETH in South Korea has reached 348,565,438+05 won, exceeding US$ 365,438+065,438+0, with a premium of over 50%, which shows the huge demand for competitive coins in South Korea.
What is more striking is that the ETH transaction volume in South Korea even exceeds the bitcoin transaction volume. In the past 24 hours, the transaction volume of ETH won exceeded 465 billion won (about 465.438+0.5 million US dollars), exceeding the transaction volume of Bitcoin in the same period (266 billion won, about 237 million US dollars).
After Bithumb, the largest exchange in South Korea, increased its support for ETC trading, ETC was also very popular in South Korea, with daily trading volume approaching ETH, reaching 429 billion won (about 383 million US dollars).