Bitcoin’s Kimchi Premium Soars 3.48% on Korean Exchanges, Outpacing Ethereum

On November 7th, Bitcoin’s price saw a noticeable shift in the South Korean market, with the asset exhibiting a Kimchi Premium of 3.48%. Trading at 153.04 million KRW on Upbit, a major South Korean exchange, Bitcoin witnessed a dip of 1.91% from the previous day’s price. However, this was offset by a notable increase in demand on global exchange Binance, where BTC stood at 147.89 million KRW. Notably, this exchange witnessed a price difference of 5.15 million KRW and a Kimchi Premium of 3.48%. Ethereum also saw a premium of 3.50%, along with other major altcoins showing similar levels ranging from 3.5% to 3.8%.