Bitcoin Records 6.52% Kimchi Premium in Korean Market on October 16

As of 12:00 AM KST on October 16, Bitcoin (BTC) was trading at 168.2 million KRW on South Korea’s Upbit exchange, down 1.11% from the previous day. On global exchange Binance, BTC was priced at 157.91 million KRW, resulting in a price gap of 10.29 million KRW and a Kimchi Premium of 6.52%.

Ethereum (ETH), the leading altcoin, recorded a Kimchi Premium of 6.55%. Other major altcoins also displayed similar premiums: Solana (SOL) at 6.50%, XRP (XRP) at 6.60%, Dogecoin (DOGE) at 6.38%, and Shiba Inu (SHIB) at 6.33%. Most top altcoins are currently trading with a premium in the 6.3% to 6.6% range.

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IT Times YoungHa Kim (yhkim@ittimes.com)