On October 16th, Bitcoin experienced a surge in the Korean market with a notable kimchi premium of 6.52%. Trading data on South Korea’s Upbit showed Bitcoin reaching 168.2 million KRW at 12:00 AM KST, a 1.11% decrease from the previous day. This price change resulted in a Kimchi Premium of 6.52%. On Binance, Bitcoin’s price stood at 157.91 million KRW, displaying a price gap of 10.29 million KRW and contributing to the premium’s prominence. 6.55% was the recorded kimchi premium for Ethereum, one of the leading altcoins. Other notable altcoins also displayed similar premiums: Solana (SOL) at 6.5%, XRP (XRP) at 6.6%, Dogecoin (DOGE) at 6.38%, and Shiba Inu (SHIB) at 6.33%. A majority of the top altcoins currently exhibit a premium of around 6.3% to 6.6% on global exchanges.