Bitcoin Shows Negative Kimchi Premium of 1.47% on August 11

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Bitcoin Exhibits Negative Kimchi Premium of 1.47% on August 11

As of 12:00 AM KST on August 11, Bitcoin (BTC) was trading at ₩162.57 million on Upbit, South Korea's leading cryptocurrency exchange. This represents a 1.49% increase from the previous day's trading price. Simultaneously, on Binance, BTC was priced at ₩164.99 million. This price discrepancy results in a difference of -₩2.42 million, translating to a negative Kimchi Premium of -1.47%.

Ethereum (ETH), the leading altcoin, is also currently displaying a negative Kimchi Premium of -1.40%. Other prominent altcoins are trading at a discount compared to their global prices, including: Solana (SOL) at -1.30%, Ripple (XRP) at -1.33%, Dogecoin (DOGE) at -1.20%, and Shiba Inu (SHIB) at -1.02%. The majority of top altcoins are reflecting negative Kimchi Premiums, generally ranging from -1.0% to -1.4%.

IT Times YoungHa Kim (yhkim@ittimes.com)