A significant premium has emerged in the South Korean market: As of midnight on November 16 (Korea time), Bitcoin was trading at 89.26 million won on Upbit, up 0.45% from the previous day. Binance quoted it at 86.78 million won over the same period, a price gap of 2.48 million won, putting the kimchi premium at 2.85%.
Ethereum's premium was 2.75%, while XRP was at 2.79%, SUI at 2.78%, SOL at 2.76%, and Dogecoin at 2.72%. Premiums for major cryptocurrencies were generally in the 2.7%–2.8% range.
The kimchi premium reflects the price gap between South Korean exchanges and global platforms, and is an important indicator of domestic retail demand in South Korea. (Source: CryptoCompass, November 16)
$BTC $ETH $XRP
Ethereum's premium was 2.75%, while XRP was at 2.79%, SUI at 2.78%, SOL at 2.76%, and Dogecoin at 2.72%. Premiums for major cryptocurrencies were generally in the 2.7%–2.8% range.
The kimchi premium reflects the price gap between South Korean exchanges and global platforms, and is an important indicator of domestic retail demand in South Korea. (Source: CryptoCompass, November 16)
$BTC $ETH $XRP
