Bitcoin Trades at 1.66% Kimchi Premium in South Korea

On June 15th, Bitcoin traded at a 1.66% premium known as the ‘Kimchi Premium’ on South Korean exchange Upbit. This was measured around 12:00 AM KST, with BTC trading at 145.79 million KRW, down by 1.00% from the previous day. Conversely, on global exchange Binance, BTC stood at 143.41 million KRW, leading to a price difference of 2.38 million KRW and the Kimchi Premium reaching 1.66%. The article goes on to report that Ethereum (ETH) showed a similar premium of 1.55%, with other major altcoins also displaying noticeable premiums. These included Solana (SOL) at 1.62%, XRP (XRP) at 1.56%, Dogecoin (DOGE) at 1.58%, and Shiba Inu (SHIB) at 1.52%. Altcoin trading currently suggests a premium of around 1.5% to 1.6% across the board.