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Gate Square New & Returning Creator Rewards are ongoing!
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Are Koreans abandoning crypto? Does altcoin still have a future?
When it comes to crypto, few places are as fervent as South Korea. This is where the term Kimchi Premium originated - describing the phenomenon of South Koreans willing to buy Bitcoin at a 10% higher price than the global market. They are not hesitant to spend extra money, as long as they can own BTC.
However, the Korean market is witnessing a rather bleak picture. The exchanges that were once bustling are now unusually quiet. Trading volume has plummeted across the board.
So what is it that makes investors from the land of the morning calm suddenly change their minds? And when the most daring group of investors withdraws, will there still be anyone to support altcoins?