Bitcoin Trades at 1.34% Kimchi Premium in South Korea on June 16

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Bitcoin exhibits a 1.34% "Kimchi Premium" in South Korean markets as of June 16th.

At 12:00 AM KST on June 16th, Bitcoin (BTC) was trading at 146.4 million KRW on the South Korean exchange Upbit, a slight decrease of 0.01% compared to the previous day. Simultaneously, on Binance, the global cryptocurrency exchange, BTC was priced at 144.46 million KRW. This discrepancy represents a price difference of 1.94 million KRW, translating to a Kimchi Premium of 1.34%.

Ethereum (ETH), a leading altcoin, is also trading at a premium, showing a figure of 1.32%. Several other prominent altcoins are exhibiting similar "Kimchi Premiums," including: Solana (SOL) at 1.23%, Ripple (XRP) at 1.33%, Dogecoin (DOGE) at 1.22%, and Shiba Inu (SHIB) at 1.44%. Currently, the majority of top altcoins are trading with premiums ranging between 1.2% and 1.4%.

IT Times YoungHa Kim (yhkim@ittimes.com)