TL;DR Breakdown:
- Upbit exchange operator has developed Korea’s first digital asset fear and greed index.
- The indicator will help local investors to make better investment decisions.
Dunamu, the operator of the leading South Korean cryptocurrency exchange Upbit, announced on Tuesday that it has launched a digital asset fear and greed index from cryptocurrency investors in Korea. The blockchain company views the development as an important step to guiding investors’ decisions. The indicator analyses and reflects the current market sentiment, helping Korean digital assets investors to make rational decisions when the market is too greedy or fearful.
First Korean digital asset fear and greed index launches
This indicator was developed by the company’s Data Value Team and regarded as the first-ever digital asset fear and greed index for the Korean market, according to Dunamu’s announcement. The index curates its data from the South Korean exchange, Upbit, and it’s refreshed every five minutes. Among other things, the Korean digital asset fear and greed index analyses the increase and decrease in the volatility and volume of digital assets.
Per the announcement, the indicator treats increases in digital assets’ volatility and volume as a moment of extreme greed, while the decrease means the market is in extreme fear. An official from Dunamu notes that many digital assets in investors in the country had to refer to global indicators to analyze the current state of the market, which prompted the development of the first domestic digital asset fear and greed index.
“The digital asset fear-greed index based on the data and know-how accumulated through the operation of the first digital asset index in Korea UBCI will become a compass for domestic digital asset investment,” the translated version reads.
Bitcoin fear and greed index
Cryptocurrency fear and greed index are very resourceful to understand the current state of the market – whether the investors are greedy or fearful. Alternative.me developed the first Bitcoin F&G index, which currently shows that Bitcoin investors are extremely greedy.
