According to CryptoQuant, South Korea’s Bitcoin premium hit 1.98% on May 7, its highest since late February, before easing to 0.77% on Upbit, signaling a temporary rise in local demand.
CryptoQuant’s Korea Premium Index showed South Korea’s Bitcoin premium rose to 1.98% on May 7, marking its highest level since late February. The index measures the gap between Bitcoin prices on South Korean exchanges and the global volume-weighted average price. The premium later eased to 0.77% based on Upbit pricing, indicating the spike was temporary.