Bitcoin continues to show volatility in the South Korean market as it experiences a slight decline in value. The latest figures reveal a notable price gap between local and global exchanges, highlighting the ongoing phenomenon known as the Kimchi Premium. Based on the data provided in the document, this premium has significant implications for traders and investors in the region.
Bitcoin Price Update
As of 12:00 AM KST on September 28, Bitcoin (BTC) was trading at 15,731 million KRW on Upbit, reflecting a decrease of 0.52% from the previous day. In contrast, on the global exchange Binance, BTC was priced at 15,405 million KRW, creating a price gap of 326 million KRW and a Kimchi Premium of 212.
Ethereum and Altcoin Premiums
Ethereum (ETH) also exhibited a Kimchi Premium of 202, while other major altcoins followed suit.
- Solana (SOL) recorded a premium of 211
- XRP (XRP) at 209
- Dogecoin (DOGE) at 215
- Shiba Inu (SHIB) at 186
Most top altcoins are currently trading with premiums ranging from 18 to 21, indicating a consistent trend in the South Korean cryptocurrency market.
As Changpeng Zhao's culinary journey in South Korea highlights the intersection of culture and cryptocurrency, the ongoing developments in the crypto landscape are equally significant. Currently, Vietnam is emerging as a key player in the market, forming strategic partnerships with major exchanges like Binance and Bybit, which raises critical questions about regulatory frameworks in the crypto space. For more insights on these developments, you can read the full story here.
