Bitcoin Shows 0.76% Kimchi Premium in Korean Market
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Bitcoin Price Increase: As of December 31 at 12:00 AM KST, Bitcoin (BTC) was trading at 128.82 million KRW on South Korea's Upbit exchange, up 1.31% from the previous day, indicating strong market demand that may attract more investors' attention.
- Global Price Discrepancy: On the global exchange Binance, BTC was priced at 127.84 million KRW, resulting in a price gap of 0.98 million KRW, highlighting the uniqueness of the Korean market and the willingness of investors to purchase, which further boosts local market activity.
- Other Cryptocurrency Premiums: Ethereum (ETH) recorded a kimchi premium of 0.74%, while other major altcoins like Solana (SOL) and XRP showed premiums of 0.76% and 0.65% respectively, indicating rising demand for these assets that may influence investors' asset allocation strategies.
- Market Trends: Most top altcoins are trading with premiums in the range of 0.6% to 0.8%, reflecting sustained investor interest in the cryptocurrency market, which could lead to increased capital inflow into the sector and drive overall market growth.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
