反向「泡菜溢價」使比特幣在韓國變得更便宜

由於自 2023 年 10 月以來從未出現過的反向“泡菜溢價”，比特幣 (BTC) 在韓國的交易價格略低於全球加密貨幣市場。

South Korean cryptocurrency exchanges are offering Bitcoin (BTC) at a lower price than the rest of the world due to a reverse ‘kimchi premium,’ not seen since October 2023.

由於自 2023 年 10 月以來從未出現過的反向“泡菜溢價”，韓國加密貨幣交易所以低於世界其他地區的價格提供比特幣 (BTC)。

Bitcoin trades at a higher price on South Korean exchanges than on global markets, a phenomenon known as the ‘kimchi premium.’ This premium is driven by several factors, including strong local demand, regulatory restrictions on capital flows, and a limited supply of BTC on South Korean exchanges.

比特幣在韓國交易所的交易價格高於全球市場，這種現象稱為「泡菜溢價」。這種溢價是由多種因素推動的，包括強勁的當地需求、資本流動的監管限制以及韓國交易所的比特幣供應有限。

However, The Korea Times reported a price differential of more than $500 between BTC’s price in South Korea and global markets, with the local price being lower. This indicates a negative ‘kimchi premium.’

然而，根據《韓國時報》報道，比特幣在韓國的價格與全球市場的價格差異超過 500 美元，其中當地價格較低。這表示“泡菜溢價”為負。

Analysts attribute this to a lack of domestic investor interest in cryptocurrency, leading to lower trading volumes on South Korean exchanges. In contrast, global crypto trading volumes have surged due to the upcoming US presidential elections and a Chinese stimulus package.

分析師將此歸因於國內投資者對加密貨幣缺乏興趣，導致韓國交易所的交易量下降。相較之下，由於即將到來的美國總統選舉和中國的經濟刺激計劃，全球加密貨幣交易量激增。

According to KP Jang, head of Xangle Research, foreign and institutional investors are barred from using domestic exchanges, making the decline in retail investor demand a more direct factor.

Xangle Research負責人KP Jang表示，外國和機構投資者被禁止使用國內交易所，這使得散戶投資者需求下降成為更直接的因素。

Moreover, the preference for typically riskier altcoins in hopes of extraordinary profits might influence the local South Korean crypto market, driving attention away from Bitcoin and leading to lower trading volumes.

此外，為了獲得非凡利潤而對通常風險較高的山寨幣的偏好可能會影響韓國當地的加密貨幣市場，從而轉移人們對比特幣的注意力並導致交易量下降。

Historically, such price discrepancies have only persisted for a short period, and analysts expect the negative kimchi premium to be a temporary phenomenon.

從歷史上看，這種價格差異只會持續很短一段時間，分析師預計泡菜溢價為負只是暫時現象。

South Korea’s crypto regulatory framework is also undergoing several changes to streamline digital asset trading and ensure sufficient customer protection mechanisms.

韓國的加密貨幣監管框架也正在經歷一些變化，以簡化數位資產交易並確保足夠的客戶保護機制。

In 2022, South Korea elected pro-crypto Yoon Suk-Yeol as president. As part of his election campaign, Yoon promised to reduce government interference in crypto markets, calling existing regulations “far from reality and absurd.”

2022 年，韓國選舉支持加密貨幣的尹錫烈 (Yoon Suk-Yeol) 為總統。作為競選活動的一部分，尹承諾減少政府對加密貨幣市場的干預，稱現有法規「遠離現實且荒謬」。

In contrast, neighboring Japan has openly embraced digital assets amid evolving crypto regulations. For instance, earlier this year, Japan’s Government Investment Pension Fund (GIPF), with $1.5 trillion in assets, expressed a desire to gain exposure to BTC.

相比之下，鄰國日本在不斷發展的加密法規中公開接受數位資產。例如，今年早些時候，擁有 1.5 兆美元資產的日本政府投資退休基金（GIPF）表示希望投資 BTC。

BTC trades at $67,559 at press time, down 0.4% in the past 24 hours. When writing, the leading cryptocurrency commands a total market cap of $1.33 trillion.

截至發稿，BTC 交易價格為 67,559 美元，過去 24 小時下跌 0.4%。在撰寫本文時，領先的加密貨幣總市值為 1.33 兆美元。