On July 20, 2023, Bitcoin and Ethereum exhibited negative Kimchi Premiums, indicating disparities in prices between local and international cryptocurrency exchanges.
Bitcoin Price Comparison
As of midnight KST on July 20, Bitcoin (BTC) was trading at 161.60 million KRW on the South Korean exchange Upbit, showing a 0.05% increase from the previous day. Meanwhile, on the global exchange Binance, BTC was priced at 163.82 million KRW, resulting in a price gap of -2.22 million KRW and a negative Kimchi Premium of -1.36%.
Kimchi Premium for Ethereum and Altcoins
Ethereum (ETH), the leading altcoin, also showed a negative Kimchi Premium of -1.29%. Other major altcoins are trading at discounts: Solana (SOL) at -1.27%, Ripple (XRP) at -1.22%, Dogecoin (DOGE) at -1.03%, and Shiba Inu (SHIB) at -1.06%. Most top altcoins currently reflect Kimchi Premiums in the range of -1.0% to -1.2%.
Current Altcoin Prices
Currently, altcoins continue to exhibit negative Kimchi Premiums, reflecting market trends and price discrepancies between Korean and international exchanges.
Thus, on July 20, Bitcoin and Ethereum recorded negative Kimchi Premiums, highlighting existing price differences across various cryptocurrency exchanges.
