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XRP South Korean cryptocurrency market reproduces reverse kimchi premium
On August 4, Bitcoin showed a reverse kimchi premium of-0.55% in the Korean market.
As of 0:00 a.m. Korean Standard Time on August 4, Bitcoin's quoted price on the South Korean Upbit Exchange was 90.86 million won, down 0.03% from the previous trading day. On the global trading platform Binhang, the price of Bitcoin is 91.37 million won, there is a negative price difference of 510,000 won between the two, and the reverse kimchi premium is-0.55%.
Mainstream altcoins are generally discounted
Mainstream altcoin Ethereum recorded a reverse kimchi premium of-0.45%. Other major altcoins also trade at levels below global prices, with Solana at-0.46%, Ripple at-0.45%, Dogecoin at-0.62% and Sui at-0.54%. Currently, the reverse kimchi premium of most mainstream altcoins is in the range of-0.4% to-0.6%.
