Bitcoin Surges in South Korea: 0.38% Kimchi Premium on May 2

Bitcoin experienced a notable price surge in South Korea, rising by 2.44% to reach 139.37 million KRW on the Upbit exchange at 12:00 AM on May 2 (KST). This increase was accompanied by a Kimchi Premium of 0.38%. On Binance, the global exchange, Bitcoin’s price remained slightly lower at 138.84 million KRW, resulting in a price gap of 530,000 KRW and highlighting the presence of the characteristic Korean market premium. Notably, Ethereum also displayed a moderate Kimchi Premium of 0.38%. Other prominent altcoins like Solana, XRP, Dogecoin, and Shiba Inu exhibited modest premiums ranging from 0.40% to 0.46%, respectively.