Korean Kimchi Premium Flips, Favourable Condition for Investors: Analyst
- Reports suggested that the Korean Kimchi Premium flipped to a discount.
- Analyst Doo Wan Nam tweets that the time is perfect for investors to earn profit by buying coins at cheaper prices.
- There are notable changes in the prices of BTC and ETH on Korean and other exchanges.
Doo Wan Nam, the co-founder and the Chief Operating Officer (COO) of the Node validator and venture capital fund StableNode commented that the discount on the Korean Kimchi Premium marks a better time for investors to buy the cryptocurrencies as they can be sold to the “Korean gamblers for 20% premium later when they FOMO.”
At midnight, on 20 February, Nam tweeted that Korean (Kimchi) Premium is now turned into Korean Discount:
Korean (Kimchi) Premium is now turned into Korean Discount
— Doo | StableLab @Seoul (@DooWanNam) February 19, 2023
Generally it means fall in interest in crypto from Korean retail, which ironically is generally a better time to buy cause you know you can always sell yours to Korean gamblers for 20% premium later when they FOMO pic.twitter.com/FFcvdi93PE
Notably, the term Kimchi, referring to a Korean dish, designates the difference between the prices of cr…
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