Reverse Premium on Tether Occurs on Upbit…"Impact of Rising KRW-USD Exchange Rate"

Bloomingbit Newsroom

Summary

It was reported that a reverse premium phenomenon occurred on Upbit for Tether.
The price of Tether is 1,407 KRW, trading lower than the 1,434.80 KRW KRW-USD exchange rate.
It was added that the average transfer volume of stablecoins on the Tron network has surpassed 20 billion USD.

As the KRW-USD exchange rate surpassed the 1430 KRW mark for the first time in about two years, a 'reverse kimchi premium' phenomenon has occurred on Upbit, where the price of Tether (USDT) is lower than the KRW-USD exchange rate.

As of 11:10 AM on the 9th, the price of Tether on Upbit is trading at 1407 KRW, while the KRW-USD exchange rate is currently at 1,434.80 KRW.

The average transfer volume of stablecoins on the Tron (TRX) network has surpassed 20 billion USD.

On the 5th (local time), Tronscan announced via X that "the daily average transfer volume of stablecoins on the Tron network has surpassed 22 billion USD over the past week."

USDT