Negative Kimchi Premium Widens: Bitcoin, Ethereum, and Major Altcoins Trading Below Global Prices

The negative Kimchi premium has expanded, as seen in the trading behavior of Bitcoin (BTC), Ethereum (ETH), and major altcoins on Korean exchanges. As of 12:00 AM KST on May 14th, BTC was trading at approximately KRW 145.58 million on Upbit, a rise of 0.49% from the previous day. Meanwhile, prices on Binance stood at KRW 146.39 million. This price gap, which reflects a -KRW 810,000 negative Kimchi Premium or -0.56%, signifies further expansion in the trend.