BTC Kimchi Premium Settles at 4.1%
CryptoNewsTerminal Staff18 Aug, 2024
BTC Kimchi Premium Settles at 4.1%
BTC Kimchi premium has been recorded at 4.1%, indicating a price difference between South Korean exchanges and global exchanges. The premium is calculated by comparing the price of Bitcoin on Upbit, the largest South Korean exchange, with the price on Binance, the largest global exchange. As of today, the price of Bitcoin on Upbit is 81,452,000 KRW, while the price on Binance is 78,234,335 KRW. This results in a difference of 3,217,665 KRW, or 4.1%. The Kimchi premium has been attributed to several factors, including the high demand for Bitcoin in South Korea, the country's strict capital controls, and the low liquidity of the South Korean cryptocurrency market. In recent months, the premium has fluctuated between 2% and 6%.
