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Cryptocurrencies: Kimchi Premium Decreased to 2.13%

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by Giorgi Kostiuk

5 hours ago

As of July 22, 2023, a negative Kimchi Premium is observed for Bitcoin and other altcoins in the Korean market.

Bitcoin and its Current Price

On July 22 at 00:00 KST, Bitcoin (BTC) was trading at 160.93 million KRW on the Korean exchange Upbit, showing a 0.02% increase from the previous day.

Comparison with Global Prices

On the global exchange Binance, Bitcoin was priced at 164.43 million KRW, resulting in a price gap of 3.50 million KRW and a Kimchi Premium of -2.13%.

Altcoins and Their Kimchi Premium

Ethereum (ETH), the second-largest cryptocurrency by market cap, is currently trading at a -2.14% discount compared to global prices. Other major altcoins also show negative Kimchi Premiums: Solana (SOL) at -2.14%, XRP at -2.21%, Dogecoin (DOGE) at -1.93%, and Shiba Inu (SHIB) at -2.40%.

Thus, on July 22, 2023, a persistent trend of negative Kimchi Premium is observed for Bitcoin and popular altcoins in the Korean markets.

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