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Cryptocurrency Market: Kimchi Premium on Bitcoin and Leading Altcoins

Cryptocurrency Market: Kimchi Premium on Bitcoin and Leading Altcoins

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by Giorgi Kostiuk

3 hours ago

On September 16, new data on Kimchi premiums for Bitcoin and leading altcoins has been recorded in the Korean market. Bitcoin is trading with a premium compared to global exchanges.

Kimchi Premiums on Bitcoin

As of 12:00 AM KST on September 16, Bitcoin (BTC) was trading at 159.84 million KRW on Upbit, down 0.31% from the previous day. On global exchange Binance, BTC was priced at 158.88 million KRW, resulting in a price gap of 960,000 KRW and a Kimchi Premium of 0.61%.

Altcoins and Their Premiums

Ethereum (ETH), the leading altcoin, recorded a Kimchi Premium of 0.58%. Other major altcoins also displayed notable premiums, with Solana (SOL) at 0.54%, XRP (XRP) at 0.48%, Dogecoin (DOGE) at 0.47%, and Shiba Inu (SHIB) at 0.42%. Most top altcoins are currently trading with a premium in the 0.4% to 0.5% range.

Market Trends

The observed Kimchi premiums confirm the ongoing interest in cryptocurrencies in the Korean market, where traders are willing to pay more for access to digital assets. This trend may influence price dynamics and trading activity.

Kimchi premiums on Bitcoin and altcoins continue to impact the cryptocurrency market in South Korea, reflecting healthy investor interest in digital assets in the region.

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