Bitcoin continues to show resilience in the South Korean market, with a slight increase in its trading price. As of January 25, 2023, the cryptocurrency is experiencing a notable price disparity compared to global exchanges, and the source notes that this trend may be influenced by local demand and regulatory factors.
Bitcoin Price Update
At 12:00 AM KST, Bitcoin (BTC) was trading at 13,200 million KRW on Upbit, marking a 0.03% rise from the previous day. This increase highlights the ongoing interest in Bitcoin among South Korean investors, despite the overall market volatility.
Price Comparison with Global Exchanges
In comparison, the global exchange Binance listed BTC at 13,039 million KRW, creating a price gap of 161 million KRW. This difference has resulted in a kimchi premium of 124, indicating that South Korean traders are willing to pay more for Bitcoin than their international counterparts.
Trends in Other Cryptocurrencies
Other cryptocurrencies are also reflecting similar trends, with
- Ethereum (ETH)
- Solana (SOL)
- XRP
- Dogecoin (DOGE)
- Sui (SUI)
Recent insights into trading patterns on Upbit revealed that the peak trading hour aligns with the start of the business day in South Korea, contrasting with Bitcoin's current performance. For more details, see peak trading activity.
