South Koreans are paying a full 3% extra to purchase bitcoin (BTC) than their U.S. counterparts as they search safety from the plummeting gained, CryptoQuant information present.
Priced in gained, the biggest cryptocurrency is valued at 145,000,000 ($98,600) on the nation’s largest crypto trade, Upbit. That compares with about $96,700 on Coinbase (COIN).
The transfer follows a vote by the South Korean parliament to question Han Duck-soo, the prime minister and appearing president, simply weeks after impeaching President Yoon Suk Yeol. The gained slumped a 15-year low in opposition to the greenback.
“This unfolding saga is fundamentally about election fraud and the erosion of trust in South Korea’s National Election Commission (NEC),” stated Jeff Park, head of alpha methods at funding supervisor Bitwise, in a put up on X. “The use of impeachment as a political tool, combined with allegations of foreign election interference, underscores the fragility of democracy in the face of disinformation. This is not just a Korean story; it’s a warning for democracies worldwide.”
