Bitcoin Shows Slight Negative Kimchi Premium on Sept. 1

As of 12:00 AM KST on September 1, Bitcoin (BTC) is trading at 150.69 million KRW on South Korea’s cryptocurrency exchange Upbit, marking a 0.69% decline from the previous day. On Binance, the cryptocurrency is priced at 150.70 million KRW. The gap between the two exchanges stands at -10,000 KRW, resulting in a Kimchi Premium of -0.01%.

Ethereum (ETH), the leading altcoin, also posts a negative Kimchi Premium of -0.08%. Other major altcoins show similar trends, with Solana (SOL) at -0.05%, Ripple (XRP) at -0.08%, Dogecoin (DOGE) at -0.24%, and Shiba Inu (SHIB) at -0.23%. Overall, most altcoins on Korean exchanges are trading at discounts compared to global markets, with negative Kimchi Premiums ranging from -0.05% to -0.24%.

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IT Times YoungHa Kim (yhkim@ittimes.com)