Bitcoin continues to show resilience in the South Korean market, with a slight uptick in its trading price. As of September 21, the cryptocurrency is experiencing a notable price difference compared to global exchanges, highlighting the ongoing phenomenon known as the Kimchi Premium. The source reports that this premium has been a consistent feature of the South Korean crypto landscape.
Bitcoin Price Comparison
On South Korea's Upbit exchange, Bitcoin is trading at 16,239 million KRW, marking a 0.15% increase from the previous day. This contrasts with the price on Binance, where Bitcoin is listed at 16,219 million KRW, creating a price gap of 200,000 KRW. The Kimchi Premium, which reflects the higher prices of cryptocurrencies in South Korea compared to global markets, stands at 0.12.
Altcoin Performance
In addition to Bitcoin, other altcoins such as:
- Ethereum
- Solana
- XRP
- Dogecoin
- Shiba Inu
are also experiencing modest premiums in the South Korean market. This trend indicates a sustained interest in cryptocurrencies among South Korean investors, despite the fluctuations in the global market.
As the situation with Bhutan's Bitcoin holdings continues to unfold, the cryptocurrency market is also facing scrutiny due to ongoing developments surrounding TradeOgre. Recent reports indicate that Canadian authorities are intensifying their investigation into the exchange's operations, which could have significant implications for investors. For more details on the latest updates regarding the RCMP's actions and their potential impact on the cryptocurrency market, see the full report here.
