On August 5, the South Korean cryptocurrency market shows a Kimchi Premium, with prices for Bitcoin and altcoins higher than on global exchanges.
Kimchi Premium for Bitcoin
As of 12:00 AM KST on August 5, Bitcoin (BTC) was trading at 160.12 million KRW on Upbit, down 0.07% from the previous day. On global exchange Binance, BTC was priced at 158.90 million KRW, resulting in a price difference of 1.22 million KRW and a Kimchi Premium of 0.77%.
Kimchi Premium for Altcoins
Ethereum (ETH), the leading altcoin, showed a Kimchi Premium of 0.76%. Other major altcoins also displayed notable premiums: Solana (SOL) at 0.73%, XRP (XRP) at 0.82%, Dogecoin (DOGE) at 0.72%, and Shiba Inu (SHIB) at 0.74%. Most top altcoins are currently trading with a premium in the 0.7% to 0.8% range.
Market Trends
The cryptocurrency market in South Korea continues to demonstrate high activity, especially regarding Kimchi Premium, which varies for major cryptocurrencies. This may indicate increased investor interest in the South Korean segment.
The Kimchi Premium remains a relevant topic in the South Korean cryptocurrency market, where Bitcoin and several altcoins show notable price differences compared to international markets.
