On September 12, Bitcoin and several altcoins showed Kimchi premiums in the Korean market, indicating price discrepancies between local and global exchanges.
Kimchi Premium of Bitcoin
As of 12:00 AM KST on September 12, Bitcoin (BTC) was trading at 159.18 million KRW on South Korea’s Upbit exchange, up 0.39% from the previous day. On global exchange Binance, BTC was priced at 158.94 million KRW, creating a price gap of 240,000 KRW and resulting in a Kimchi Premium of 0.15%.
Altcoins and Their Kimchi Premiums
Ethereum (ETH), the leading altcoin, posted a Kimchi Premium of 0.16%. Other major altcoins also showed modest premiums: Solana (SOL) at 0.18%, XRP at 0.30%, Linea (LINEA) at 0.77%, and Shiba Inu (SHIB) at 0.11%. Most leading altcoins are currently trading with premiums between 0.1% and 0.7%.
General Market Overview
The data on Kimchi premiums illustrates ongoing price disparities between Korean and international markets, reflecting local supply and demand dynamics.
Thus, Kimchi premiums in the Korean market indicate persistent discrepancies in cryptocurrency prices between local and global exchanges.
