Bitcoin Premium Soars in South Korea at 3.13%

South Korea’s Bitcoin market saw a significant surge on May 7, with the cryptocurrency trading at a 3.13% premium on the Upbit exchange. As of midnight KST, Bitcoin traded at 133.94 million KRW, marking a 0.71% decrease compared to the previous day. On global exchange Binance, BTC was priced at 129.87 million KRW, creating a price gap of 4.07 million KRW and signifying a Kimchi Premium of 3.13%. Ethereum (ETH) also experienced a similar premium with a 3.13% Kimchi Premium, though other top altcoins like Solana, XRP, Dogecoin, and Shiba Inu showed a similar trend of trading at premiums between 3.0% to 3.1%.