Study Reveals South Korea’s ‘Kimchi Premium’ Strongly Linked to International Remittances to China
A newly-released study published in December 2022 reveals that South Korea’s “kimchi premium,” the divergence in cryptocurrency valuations on Korean exchanges compared to Western trading platforms, is strongly associated with a surge in international remittances to China.
Examination of Overseas Remittances to China Uncovers Strong Correlation with South Korea’s ‘Kimchi Premium’According to a study conducted by Jangyoun Lee, an assistant professor at Incheon National University, and Taehee Oh of the Bank of Korea, South Korea’s kimchi premium appears to be significantly correlated with an influx of overseas remittances to China. The researchers note that the first instance of the kimchi premium in South Korea occurred in 2016, when there was high demand for bitcoin among Korean investors but a limited supply of BTC. Essentially, the kimchi premium refers to the price of bitcoin and other cryptocurrency assets being significantly higher in South Korea than on Western exchanges.
A newly-released study published in December 2022 reveals that South Korea’s “kimchi premium,” the divergence in cryptocurrency valuations on Korean exchanges compared to Western trading platforms, is strongly associated with a surge in international remittances to China.
Examination of Overseas Remittances to China Uncovers Strong Correlation with South Korea’s ‘Kimchi Premium’According to a study conducted by Jangyoun Lee, an assistant professor at Incheon National University, and Taehee Oh of the Bank of Korea, South Korea’s kimchi premium appears to be significantly correlated with an influx of overseas remittances to China. The researchers note that the first instance of the kimchi premium in South Korea occurred in 2016, when there was high demand for bitcoin among Korean investors but a limited supply of BTC. Essentially, the kimchi premium refers to the price of bitcoin and other cryptocurrency assets being significantly higher in South Korea than on Western exchanges.
Cardano (ADA) Price Analysis: Dips Remain Attractive To The Bulls
Cardano price is correcting lower below $0.412 against the US Dollar, similar to bitcoin. ADA price could extend its decline if it breaks the $0.395 support.
Cardano Price AnalysisThis past week, cardano price started a steady increase above the $0.375 resistance zone against the US Dollar. The ADA/USD pair gained pace for a move above the $0.385 and $0.392 levels.
It even broke the $0.400 level and settled well above the 55 simple moving average (4-hours). It traded as high as $0.421 and recently started a downside correction. There was a move below the $0.405 and $0.400 levels. The price even spiked below the 23.6% Fib retracement level of the upward move from the $0.3454 swing low to $0.4213 high.
Cardano price is correcting lower below $0.412 against the US Dollar, similar to bitcoin. ADA price could extend its decline if it breaks the $0.395 support.
Cardano Price AnalysisThis past week, cardano price started a steady increase above the $0.375 resistance zone against the US Dollar. The ADA/USD pair gained pace for a move above the $0.385 and $0.392 levels.
It even broke the $0.400 level and settled well above the 55 simple moving average (4-hours). It traded as high as $0.421 and recently started a downside correction. There was a move below the $0.405 and $0.400 levels. The price even spiked below the 23.6% Fib retracement level of the upward move from the $0.3454 swing low to $0.4213 high.
Exploring The Practical Applications of Orbeon Protocol (ORBN), Quant (QNT) and ApeCoin (APE) Utility Tokens In Various Industries
Orbeon Protocol (ORBN), Quant (QNT) and ApeCoin (APE) are three utility tokens that have garnered attention for their potential real-world applications in various industries. Orbeon Protocol (ORBN) is a new player in the market and is currently in its presale phase, while Quant (QNT) and ApeCoin (APE) have already gained traction in their respective fields. Let’s delve deeper into these utility tokens’ potential practical applications.
Quant (QNT)Quant (QNT) is an innovative blockchain project attracting attention for its groundbreaking approach to connecting diverse blockchains and networks. Quant (QNT) serves as a conduit between various networks, facilitating communication and data exchange among them.
The impressive feat of Quant (QNT) is accomplished through the Overledger Network, a cutting-edge technology designed to enable interoperability between different blockchains and networks. To access and utilize the features of the Overledger Network, users must acquire Quant (QNT) tokens.
Orbeon Protocol (ORBN), Quant (QNT) and ApeCoin (APE) are three utility tokens that have garnered attention for their potential real-world applications in various industries. Orbeon Protocol (ORBN) is a new player in the market and is currently in its presale phase, while Quant (QNT) and ApeCoin (APE) have already gained traction in their respective fields. Let’s delve deeper into these utility tokens’ potential practical applications.
Quant (QNT)Quant (QNT) is an innovative blockchain project attracting attention for its groundbreaking approach to connecting diverse blockchains and networks. Quant (QNT) serves as a conduit between various networks, facilitating communication and data exchange among them.
The impressive feat of Quant (QNT) is accomplished through the Overledger Network, a cutting-edge technology designed to enable interoperability between different blockchains and networks. To access and utilize the features of the Overledger Network, users must acquire Quant (QNT) tokens.
Could a Strengthening Economy Hurt Bitcoin?
Bitcoin has had a great year thus far, but there are some that say with the economy getting stronger, the present rally it’s enjoying won’t last.
Bitcoin May Not See Its Present Rally LastAmong the analysts who feel positive towards bitcoin is OANDA’s Craig Erlam, who stated:
It has been a phenomenal start to 2023 for bitcoin.
Bitcoin has had a great year thus far, but there are some that say with the economy getting stronger, the present rally it’s enjoying won’t last.
Bitcoin May Not See Its Present Rally LastAmong the analysts who feel positive towards bitcoin is OANDA’s Craig Erlam, who stated:
It has been a phenomenal start to 2023 for bitcoin.
US Banking Crisis Triggered $68,000,000,000 in Outflows From Global Financial Giant: Report
Stress on the US banking system triggered a flight of $68 billion from failed Swiss financial giant Credit Suisse, according to new reports.
The bank told Reuters that over 61 billion francs ($68 billion) in assets left the bank in Q1 of this year, and that those outflows are growing by the day.
Credit Suisse said,
Stress on the US banking system triggered a flight of $68 billion from failed Swiss financial giant Credit Suisse, according to new reports.
The bank told Reuters that over 61 billion francs ($68 billion) in assets left the bank in Q1 of this year, and that those outflows are growing by the day.
Credit Suisse said,
Economist Peter Schiff Surprises Critics, Dives Into Bitcoin-Backed NFT Market
Economist and ardent gold advocate Peter Schiff caused a stir on Friday by announcing his participation in an upcoming art sale featuring non-fungible tokens (NFTs). These unique digital collectibles will be minted on the Bitcoin blockchain using Ordinal inscription technology. Schiff’s surprising entry into the NFT market through Bitcoin has piqued the curiosity of onlookers, prompting them to speculate whether the once vocal Bitcoin critic has experienced a change of perspective.
Schiff: ‘I’m Still Not a Member of That Club’For a very long time, Peter Schiff has been a vocal critic of bitcoin (BTC), repeatedly asserting that the cryptocurrency’s value would eventually plummet to zero. He has engaged in numerous debates where he consistently highlighted BTC’s perceived lack of intrinsic value as one of its fundamental vulnerabilities. However, despite his longstanding stance, Schiff is now venturing into the realm of non-fungible tokens (NFTs), conducting a sale that will utilize the very blockchain technology he has criticized over the years.
“I’m pleased to announce an art project with one of my favorite artists, Market Price,” Schiff stated on Twitter. “This collaboration features the original painting “Golden Triumph” as well as a series of prints and Ordinals inscribed on the Bitcoin blockchain,” the economist added. Schiff also shared a website showcasing the NFT collection created by Market Price.
Economist and ardent gold advocate Peter Schiff caused a stir on Friday by announcing his participation in an upcoming art sale featuring non-fungible tokens (NFTs). These unique digital collectibles will be minted on the Bitcoin blockchain using Ordinal inscription technology. Schiff’s surprising entry into the NFT market through Bitcoin has piqued the curiosity of onlookers, prompting them to speculate whether the once vocal Bitcoin critic has experienced a change of perspective.
Schiff: ‘I’m Still Not a Member of That Club’For a very long time, Peter Schiff has been a vocal critic of bitcoin (BTC), repeatedly asserting that the cryptocurrency’s value would eventually plummet to zero. He has engaged in numerous debates where he consistently highlighted BTC’s perceived lack of intrinsic value as one of its fundamental vulnerabilities. However, despite his longstanding stance, Schiff is now venturing into the realm of non-fungible tokens (NFTs), conducting a sale that will utilize the very blockchain technology he has criticized over the years.
“I’m pleased to announce an art project with one of my favorite artists, Market Price,” Schiff stated on Twitter. “This collaboration features the original painting “Golden Triumph” as well as a series of prints and Ordinals inscribed on the Bitcoin blockchain,” the economist added. Schiff also shared a website showcasing the NFT collection created by Market Price.
Fuck memecoins, says PSYCHO. Yep, you heard that right. Here's why it got our attention:
• Provocative? Absolutely, PSYCHO ain't afraid to challenge the status quo.
• Strong community? 100%. Bunch of defiant spirits rallying behind the coin. Our kind of crowd.
Launched? May 29th
• Results so far? 750 holders, $3.5m market cap.
• CEX listing? First listing on MEXC today at 12pm UTC.
• Next CEXs? They are in contact with Bybit, Huobi, OKX
• Tokenomics? Crystal clear. 90% for DEX liquidity, 5% for CEX, 5% for the community. No BS.
DYOR, but from my side, this might be a massive pump. Don't forget to thank me later.
🧿 Rating: coinmarketcap
💰 Buy: uniswap, mexc
🐦 Follow: twitter
• Provocative? Absolutely, PSYCHO ain't afraid to challenge the status quo.
• Strong community? 100%. Bunch of defiant spirits rallying behind the coin. Our kind of crowd.
Launched? May 29th
• Results so far? 750 holders, $3.5m market cap.
• CEX listing? First listing on MEXC today at 12pm UTC.
• Next CEXs? They are in contact with Bybit, Huobi, OKX
• Tokenomics? Crystal clear. 90% for DEX liquidity, 5% for CEX, 5% for the community. No BS.
DYOR, but from my side, this might be a massive pump. Don't forget to thank me later.
🧿 Rating: coinmarketcap
💰 Buy: uniswap, mexc
🐦 Follow: twitter
Binance Abandons Planned Delisting of Some Privacy Coins in EU Markets
Cryptocurrency exchange Binance has reconsidered a decision to delist some privacy tokens in several European markets. The leading coin trading platform will continue to offer trading in these digital assets after revising their classification to comply with EU regulations.
Binance to Continue Support for Certain Privacy Coins Despite Earlier Intentions to Remove ThemThe world’s largest crypto exchange by trading volume, Binance, has decided to reverse a plan to delist privacy-oriented cryptocurrencies in several EU jurisdictions. The move comes after the company received feedback from some of the projects and traders.
Last month, Binance informed customers it intends to remove 12 privacy coins in France, Spain, Italy, and Poland. Those set to be delisted on June 26 were dash (DASH), verge (XVG), beam (BEAM), monero (XMR), navcoin (NAV), firo (FIRO), horizen (ZEN), secret (SCRT), zcash (ZEC), pivx (PIVX), decred (DCR), and mobilecoin (MOB).
Cryptocurrency exchange Binance has reconsidered a decision to delist some privacy tokens in several European markets. The leading coin trading platform will continue to offer trading in these digital assets after revising their classification to comply with EU regulations.
Binance to Continue Support for Certain Privacy Coins Despite Earlier Intentions to Remove ThemThe world’s largest crypto exchange by trading volume, Binance, has decided to reverse a plan to delist privacy-oriented cryptocurrencies in several EU jurisdictions. The move comes after the company received feedback from some of the projects and traders.
Last month, Binance informed customers it intends to remove 12 privacy coins in France, Spain, Italy, and Poland. Those set to be delisted on June 26 were dash (DASH), verge (XVG), beam (BEAM), monero (XMR), navcoin (NAV), firo (FIRO), horizen (ZEN), secret (SCRT), zcash (ZEC), pivx (PIVX), decred (DCR), and mobilecoin (MOB).
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COMP and MKR lead altcoin rally as regulatory uncertainty rallies
Despite increased regulatory activity, DeFi index price, led by Compound [COMP] and MakerDAO [MKR], has rallied by 56% since 11 June, Glassnode found in a new report.
Despite increased regulatory activity, DeFi index price, led by Compound [COMP] and MakerDAO [MKR], has rallied by 56% since 11 June, Glassnode found in a new report.
Serenity Shield Wins ‘Best Technology Company’ at the Sixth Annual Burj CEO Awards
September 4, 2023 – Paris, France
Serenity Shield, a front-runner in technological innovation and disruptive solutions, proudly announces its win for ‘Best Technology Company’ at the illustrious sixth edition of the Burj CEO Awards.The accolade was presented during a grand ceremony aboard a luxurious Norwegian Cruise Lines Mediterranean cruise.
The Burj CEO Awards stand as a hallmark of recognition for excellence in various sectors including innovation, entrepreneurship and leadership.
September 4, 2023 – Paris, France
Serenity Shield, a front-runner in technological innovation and disruptive solutions, proudly announces its win for ‘Best Technology Company’ at the illustrious sixth edition of the Burj CEO Awards.The accolade was presented during a grand ceremony aboard a luxurious Norwegian Cruise Lines Mediterranean cruise.
The Burj CEO Awards stand as a hallmark of recognition for excellence in various sectors including innovation, entrepreneurship and leadership.
Thorswap Resumes Service With 12 Countries Blacklisted and New Partnership to Curb Illegal Transfers
On October 6, 2023, Thorswap halted its services temporarily. However, the platform recently declared its return to full operation with some notable modifications. An array of approximately twelve countries are now barred from utilizing Thorswap, while the decentralized exchange (dex) platform’s operators disclosed a collaboration with an organization to introduce “some extra guardrails” aimed at curtailing the circulation of unauthorized funds.
Thorswap Reopens With Stricter Protocols: A Dozen Nations Banned in Wake of High-Profile TransfersSubsequent to the incident where an FTX hacker channeled millions in cryptocurrency through Thorswap, the platform’s operators acted swiftly on October 6, placing a temporary stop to dex operations. The team asserted their staunch opposition to “any and all criminal actions.” Now, less than a week later, Thorswap is back in business, this time fortified with new “guardrails.”
On October 12, the team announced on social media platform X, “Thorswap is back online! Please resume your regularly scheduled swapping of over 5,500 assets across 10 blockchains, right from your own self-custody wallet.” The team further elaborated that aside from the revamped terms of service, users will notice no significant changes. Behind the scenes, they’ve allied with a prominent industry player to install “extra guardrails” to deter the movement of illegal funds.
On October 6, 2023, Thorswap halted its services temporarily. However, the platform recently declared its return to full operation with some notable modifications. An array of approximately twelve countries are now barred from utilizing Thorswap, while the decentralized exchange (dex) platform’s operators disclosed a collaboration with an organization to introduce “some extra guardrails” aimed at curtailing the circulation of unauthorized funds.
Thorswap Reopens With Stricter Protocols: A Dozen Nations Banned in Wake of High-Profile TransfersSubsequent to the incident where an FTX hacker channeled millions in cryptocurrency through Thorswap, the platform’s operators acted swiftly on October 6, placing a temporary stop to dex operations. The team asserted their staunch opposition to “any and all criminal actions.” Now, less than a week later, Thorswap is back in business, this time fortified with new “guardrails.”
On October 12, the team announced on social media platform X, “Thorswap is back online! Please resume your regularly scheduled swapping of over 5,500 assets across 10 blockchains, right from your own self-custody wallet.” The team further elaborated that aside from the revamped terms of service, users will notice no significant changes. Behind the scenes, they’ve allied with a prominent industry player to install “extra guardrails” to deter the movement of illegal funds.
Unleash the Fun: The 2023 Extravaganza GameStop Memes
Step right up, crypto enthusiasts! The dazzling world of cryptocurrencies awaits, and at the centre ring, we have the charismatic Dogecoin (DOGE), the tech marvel Shiba Memu (SHMU), and the rising star stealing the show – GameStop Memes (GSM)! Buckle up for a thrilling journey through the crypto cosmos, where each act promises more excitement than the last.
Step right up, crypto enthusiasts! The dazzling world of cryptocurrencies awaits, and at the centre ring, we have the charismatic Dogecoin (DOGE), the tech marvel Shiba Memu (SHMU), and the rising star stealing the show – GameStop Memes (GSM)! Buckle up for a thrilling journey through the crypto cosmos, where each act promises more excitement than the last.
S2F Creator Plan B’s Prophetic Call — ‘Enjoy Sub-$40K Bitcoin While It Lasts’
Willy Woo, an onchain analyst, recently predicted that bitcoin’s value might consistently stay above the $30K mark. Earlier this week, the statement was complemented by Plan B, the developer of the stock-to-flow (S2F) price model, who presented a realized price chart and urged enthusiasts to “enjoy sub-$40K bitcoin … while it lasts.”
Bitcoin’s Final Days Below $40K? Market Analyst Plan B Urges Enjoyment of Current PricesCurrently, with bitcoin’s valuation lingering just under $38K, there’s a strong sense of bullishness and high optimism about the leading crypto asset’s future pricing. Earlier in the week, Markus Thielen, head of research at Matrixport, opined that BTC’s rise above $40K seems “inevitable,” particularly following Binance’s agreement with the U.S. Department of Justice. Thielen and his team estimate an 80% probability of BTC surpassing the $40K mark by December.
Willy Woo, an onchain analyst, recently predicted that bitcoin’s value might consistently stay above the $30K mark. Earlier this week, the statement was complemented by Plan B, the developer of the stock-to-flow (S2F) price model, who presented a realized price chart and urged enthusiasts to “enjoy sub-$40K bitcoin … while it lasts.”
Bitcoin’s Final Days Below $40K? Market Analyst Plan B Urges Enjoyment of Current PricesCurrently, with bitcoin’s valuation lingering just under $38K, there’s a strong sense of bullishness and high optimism about the leading crypto asset’s future pricing. Earlier in the week, Markus Thielen, head of research at Matrixport, opined that BTC’s rise above $40K seems “inevitable,” particularly following Binance’s agreement with the U.S. Department of Justice. Thielen and his team estimate an 80% probability of BTC surpassing the $40K mark by December.
Bitcoin Price Analysis: BTC Rally Could Extend Toward $48K
Bitcoin price is showing positive signs above $44,000 against the US Dollar. BTC might correct lower, but dips could be limited below the $44,000 zone.
Bitcoin Price AnalysisBitcoin price started a strong increase above the $42,500 resistance zone. The price remained stable above the $43,500 level and traded in a positive zone.
Besides, there was a break above a key bearish trend line with resistance near $42,650 on the 4-hour chart of the BTC/USD pair. There was a clear move above the $45,000 level and the 55 simple moving average (4 hours). The price even rallied above the $45,000 resistance zone.
Bitcoin price is showing positive signs above $44,000 against the US Dollar. BTC might correct lower, but dips could be limited below the $44,000 zone.
Bitcoin Price AnalysisBitcoin price started a strong increase above the $42,500 resistance zone. The price remained stable above the $43,500 level and traded in a positive zone.
Besides, there was a break above a key bearish trend line with resistance near $42,650 on the 4-hour chart of the BTC/USD pair. There was a clear move above the $45,000 level and the 55 simple moving average (4 hours). The price even rallied above the $45,000 resistance zone.
Shiba Inu Poised For Massive Price Eruption As Shibarium Breaks Records With Over 330 Million Transactions
Shiba Inu’s Layer-2 solution, Shibarium, is making waves in the crypto world after achieving a remarkable milestone of over 335 million transactions.
The surge in transaction activity is evident, with Shibariumscan data revealing a staggering 2.46 million transactions over the past 24 hours on Monday, a substantial leap from the 1.96 million on Friday.
LUCIE, the Chief Marketing Officer of the Shibarium ecosystem, took to Twitter on Sunday to express gratitude, tweeting, “Massive shoutout to the Shibarium community! Celebrating an incredible milestone with 300 million transactions! Keep rocking the crypto world!”
Shiba Inu’s Layer-2 solution, Shibarium, is making waves in the crypto world after achieving a remarkable milestone of over 335 million transactions.
The surge in transaction activity is evident, with Shibariumscan data revealing a staggering 2.46 million transactions over the past 24 hours on Monday, a substantial leap from the 1.96 million on Friday.
LUCIE, the Chief Marketing Officer of the Shibarium ecosystem, took to Twitter on Sunday to express gratitude, tweeting, “Massive shoutout to the Shibarium community! Celebrating an incredible milestone with 300 million transactions! Keep rocking the crypto world!”
Firms in Hong Kong Looking To Issue Ethereum (ETH) ETFs Before US Gets Approval: Report
Firms in Hong Kong reportedly hope to leapfrog US companies and get a leg up on the market by rolling out Ethereum (ETH) exchange-traded funds (ETF) first.
The Hong Kong news outlet Sing Tao Daily, citing “industry insiders,” reports that spot ETH ETFs are under “intensive preparation” in the jurisdiction.
Firms in Hong Kong reportedly hope to leapfrog US companies and get a leg up on the market by rolling out Ethereum (ETH) exchange-traded funds (ETF) first.
The Hong Kong news outlet Sing Tao Daily, citing “industry insiders,” reports that spot ETH ETFs are under “intensive preparation” in the jurisdiction.
Spectacular 350% Explosion Predicted For Shiba Inu, XRP, Solana, Cardano, Avalanche, DOT
The crypto market is priming itself for a big move to the upside, the founders of Glassnode say.
Glassnode co-founders Jan Happel and Yann Allemann, who share the Negentropic handle on the X social media platform, suggested that the crypto bull market is still on.
The market experts recalled that back in 2021, the crypto market witnessed a major correction, which they believed represented wave 4 in the market cycle. Compared to the current market conditions, characterized by a similar substantial drawdown, the cofounders anticipate a huge rally in crypto assets in the near term.
The crypto market is priming itself for a big move to the upside, the founders of Glassnode say.
Glassnode co-founders Jan Happel and Yann Allemann, who share the Negentropic handle on the X social media platform, suggested that the crypto bull market is still on.
The market experts recalled that back in 2021, the crypto market witnessed a major correction, which they believed represented wave 4 in the market cycle. Compared to the current market conditions, characterized by a similar substantial drawdown, the cofounders anticipate a huge rally in crypto assets in the near term.