[Virtual Money Real Name First Day] Virtual currency 'kimchi premium' disappears

[Virtual Money Real Name First Day] Virtual currency 'kimchi premium' disappears

Overseas bit coin price drops 35%

Uncertainty over regulation reduces new investor inflow

Domestic Market Movement

The virtual currency 'kimchi premium' disappeared. Domestic prices have been flattened while overseas bit coin prices have fallen by 35%, and the price difference has virtually disappeared. 

Kimchi premium refers to the phenomenon that the Korean market is higher than the international market price in virtual currency. 

It is an analysis that the uncertainty caused by government regulations has increased and the number of new customers has decreased and the stock market has increased more than overseas.

In addition, as the dynamics of the market have slowed down with the sharp decline, there is also a move to move away from the domestic exchange.

According to Bitsumer, 30-bit coin prices are currently standing at $ 126.33 million, 5.66 percent higher than the current $ 10,113.5 in the coin market cap.

In other virtual currencies, the premium rate of domestic exchanges is only around 5%. In Bitsum, Etherium, which is the second-largest market cap, is trading at a higher price than the coin market cap at 5.61% and the third-place ripple at 2.14%. Bitcoin Gold had a 3.84% lower Brisum price than overseas.

In the meantime, domestic premiums have reached up to 45% in bit coin and have caused 'bubble' controversy. As a result, it was pointed out that the market is distorted by excluding domestic people from the market value of virtual currency. 

It has also been pointed out that arbitrary transactions such as arbitrage trading, called "financial transactions", are also causing serious side effects.

However, in mid-month, the government announced its will to regulate virtual currency and set a policy to open transactions only through real-name accounts. The news that the entry of new customers is also unclear is reported, and prices have fallen more than overseas.

In fact, domestic coin prices have fallen by almost 50% from the peak of the month (2504,000 won based on closing price). On the other hand, the coin market cap declined by 36% from $ 17,300 to $ 11,100.

On the other hand, investors are also seeing a move away from the domestic virtual currency market, which has not been able to rebound since the price plunge. 

According to Coin Hills, a virtual currency information site, 'Upbeat' in the domestic virtual currency exchange traded at the top of the trading volume, but recently it came down to second place in the Hong Kong exchange 'Binary'. 

In the virtual currency related community, many articles about transfer of exchanges through virtual wallets are being confirmed.