Bitcoin dips below 10.000 USD, Binance plans to launch futures trading and the ‘Kimchi Premium’ returns
Your daily update on cryptonews is back with price swings and a tasty premium from South Korea
Bitcoin dips below 10.000 USD
Bitcoin dipped below 10.000 USD earlier today, continuing the slump from around 13.800 USD on the 26th of June. The rest of the crypto market turned red together with Bitcoin.
Binance plans to launch futures trading
Changpeng Zhao, the CEO of Binance and better known by his industry monniker “CZ” revealed that the exchange is planning to launch a futures trading platform.
The platform would support long and short trading contracts for a variety of crypto assets. The news about the futures launch comes shortly after an announcement that Binance will soon be supporting margin trading as well.
The ‘Kimchi Premium’ returns
The recent upswing in Bitcoin’s price has brought back a phenomenon that was also seen in the 2017 bull market: Bitcoin prices in South Korea trading at a premium (higher price) compared to western exchanges. This is called the ‘Kimchi Premium’, after the famous Korean dish.
During the recent upswing in Bitcoin’s price at the end of June, the ‘Kimchi Premium’ rose to around 1.000 USD.
At this moment, there is a premium of approximately 500 USD on South Korean exchange Bithumb (10.438 USD, as seen below):
Compared to the price of one Bitcoin on Bitstamp (9.919 USD, as seen below):
Get to know our team
Give us a call on +31 85 2250 510 or email us at support@crypto2cash.com. Our members of staff are available between 9.00–18.00 CET to answer any questions you may have, especially in regards to easily selling your crypto for fiat currencies.
