On August 4, 2023, Bitcoin in South Korea is trading with a Kimchi Premium. Ethereum and other altcoins show similar premium levels.
Price Levels of Bitcoin in South Korea
At the South Korean exchange Upbit at 4:00 PM KST, Bitcoin (BTC) was trading at 160.02 million Korean Won (KRW), reflecting a 0.41% increase from the previous day. On the global exchange Binance, Bitcoin was priced at 158.57 million KRW, resulting in a price gap of 1.45 million KRW and a Kimchi Premium of 0.92%.
Kimchi Premium on Altcoins
Ethereum (ETH) recorded a Kimchi Premium of 0.81%. Other major altcoins also showed similar levels: Solana (SOL) at 0.91%, XRP (XRP) at 0.91%, Dogecoin (DOGE) at 1.00%, and Shiba Inu (SHIB) at 0.89%. Most top altcoins are currently trading with a premium in the 0.8% to 1.0% range.
Market Trends in Cryptocurrency
The situation in the South Korean cryptocurrency market demonstrates a consistent presence of Kimchi Premiums for both Bitcoin and various altcoins, indicating local price dynamic peculiarities in the region.
The Kimchi Premium on Bitcoin and altcoins in South Korea remains a significant topic, reflecting the varying dynamics in the cryptocurrency market.
