- It was reported that the virtual asset market is showing weakness as President Trump's hint at imposing tariffs raises inflation fears.
- The Kimchi Premium of Tether has surpassed 6%, showing a phenomenon where funds are flocking to it as a value defense asset.
- Due to the weakness in the virtual asset market, major assets like Bitcoin and Ethereum are also reported to be on a downward trend.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
With President Donald Trump hinting at imposing tariffs on trading partners, inflation fears are rapidly escalating. The Kimchi Premium of Tether (USDT), which is pegged to the value of the dollar, has surpassed 6%.
As of 10:07 AM on the 3rd, Tether is trading at 1,575 KRW on the domestic virtual asset exchange Upbit, down 0.13% from the previous session (9 AM). At the same time, Tether is recorded at 1,574 KRW on Bithumb.
Currently, the Kimchi Premium of Tether exceeds 6%. Since Tether is pegged to the dollar, it is generally expected to maintain a price similar to the KRW/USD exchange rate. However, the current price of Tether is excessively high compared to the KRW/USD exchange rate of 1,471.30.
This phenomenon is interpreted as a temporary influx of funds into Tether, which has a certain value defense, amid the overall weakness of the virtual asset market.
The virtual asset market entered a bearish phase as President Trump signed an executive order on the 1st to impose tariffs on Canada, Mexico, and China under the International Emergency Economic Powers Act (IEEPA). As the trade war between the US and neighboring countries looms, clouds have gathered over the Federal Reserve's interest rate cuts, significantly deteriorating investor sentiment in virtual assets.
At the same time, Bitcoin is trading at 151.45 million KRW, down 1.65%. Other major virtual assets such as XRP (-9.00%) and Ethereum (-2.00%) are also showing weakness.

Uk Jin

wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.PiCK News
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