On August 7, the South Korean cryptocurrency market shows trends of premiums on Bitcoin and altcoins. Let's examine the current prices and their differences from global rates.
Bitcoin Prices and Kimchi Premium
As of midnight KST on August 7, Bitcoin (BTC) was trading at 160.61 million KRW on Upbit, up 0.38% from the previous day. Meanwhile, on the global exchange Binance, BTC was priced at 159.76 million KRW, resulting in a price gap of 850,000 KRW and a kimchi premium of 0.53%.
State of the Altcoin Market
Ethereum (ETH), the leading altcoin, recorded a kimchi premium of 0.50%. Other major altcoins also showed notable premiums: Solana (SOL) at 0.51%, XRP (XRP) at 0.54%, Dogecoin (DOGE) at 0.52%, and Shiba Inu (SHIB) at 1.12%. Most top altcoins are currently trading with premiums ranging from 0.5% to 1.1%.
Conclusion
The trend of kimchi premiums on Bitcoin and altcoins in South Korea continues to be relevant. These premiums may indicate local market peculiarities and investor preferences.
The overall analysis of cryptocurrency prices in South Korea shows that the observed price differences reflect market activity and investor interest in altcoins.
