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Bitcoin Kimchi Premium Surges Amid Political Turmoil in South Korea

The Bitcoin “kimchi premium” is currently in the spotlight as an escalation of political turmoil in South Korea. Bitcoin’s trading price in South Korea is 3% higher than the global spot price. The “kimchi premium” refers to the price gap between Bitcoin (BTC) listed in South Korea and those in U.S. or European exchanges. Bitcoin Kimchi Premium Spikes As Korean Won Plunge According to crypto data provider Cryptoquant, the Korea Premium Index has increased by 3%. This means South Koreans are paying 3% more to buy Bitcoin than their U.S. counterparts as they seek protection from the plummeting won. The won has slumped to a 15-year low against the dollar. Currently, Bitcoin is valued at 145,000,000 won, or about $98,600, on Upbit, South Korea’s largest crypto exchange. In contrast, the leading cryptocurrency is valued at about $96,700 on Coinbase, the US’s leading exchange. It is important to note that Bitcoin prices in South Korea are driven mainly by retail investors since institutional and foreign investors cannot participate freely. Political Tensions Rise in South Korea Meanwhile, the 3% spike in the Bitcoin Kimchi Premium follows escalating political tensions in South Korea. The South Korean parliament recently voted to impeach Prime Minister Han Duck-soo and the acting President, only a few weeks after impeaching President Yoon Suk Yeol. This unfolding drama revolves around election fraud and the erosion of trust in South Korea’s National Election Commission (NEC). A cybersecurity audit conducted last year, led by the National Intelligence Service (NIS), revealed alarming vulnerabilities in the NEC’s systems. “Every constitutional scholar needs to pay attention to what happens in Korea over the next few weeks,” says Bitwise’s Jeff Park in an X post . He added that the use of impeachment as a political tool and accusations of foreign election meddling highlight the vulnerability of democracy to misinformation. South Korea’s Crypto Boom Despite the rising political situation, crypto continues to expand in South Korea. According to earlier reports, over 30% of its population is now engaged in crypto investments . Between July and November 2024, the total market capitalization rose from 58 trillion won to 102.6 trillion won. South Korean investors now hold an average of 6.58 million won in crypto, reflecting a growing trust in the asset class. The post Bitcoin Kimchi Premium Surges Amid Political Turmoil in South Korea appeared first on TheCoinrise.com . TimesTabloid

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Trump Cyborg (TRUMPCYB) Solana Memecoin to Explode 15,000% Before Exchange Listings, As SHIB and DOGE Lag

Trump Cyborg could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Trump Cyborg (TRUMPCYB), a new Solana memecoin that was launched today, is set to explode over 15,000% in price in the coming days. This is because TRUMPCYB is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Trump Cyborg can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Trump Cyborg could become the next viral memecoin. Trump Cyborg launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Trump Cyborg on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask, or Phantom wallet and swap Solana for Trump Cyborg by entering its contract address – 9yaNQ89EaQ2nEDczZpuTZfDwfiYCxbwSYC4JeiWLDE57 – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance, and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE), and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE, and WIF investors are instead investing in new Solana memecoins, like TRUMPCYB. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price. TimesTabloid