Bitcoin continues to show a notable price disparity in South Korea, as the Kimchi Premium remains a significant factor in the local cryptocurrency market. As of the early hours of October 29, the leading cryptocurrency is trading at a premium compared to global exchanges. The publication provides the following information: this phenomenon has been a consistent trend, reflecting the unique dynamics of the South Korean market.
Bitcoin Price and Kimchi Premium
At 12:00 AM KST, Bitcoin was priced at 1,702 миллионов KRW на Upbit, reflecting a Kimchi Premium of 312 миллионов KRW over Binance, where it was trading at 1,650.4 миллионов KRW. This price difference highlights the ongoing demand for Bitcoin in South Korea, which often leads to higher valuations compared to international markets.
Altcoins Trading at Premiums
In addition to Bitcoin, other altcoins have also been observed trading at significant premiums, including:
- Ethereum
- Solana
- XRP
This trend suggests that investors in South Korea are actively seeking these cryptocurrencies, further emphasizing the robust interest in the local digital asset market.
In light of the ongoing trends in the cryptocurrency market, a recent survey has revealed the primary fears among traders, highlighting concerns over scams and market unpredictability. For more details, see the full report on these issues here.
