South Korea's Dunamu Launches Bitcoin 'Fear and Greed' Index to Guide Traders
The tool is aimed at helping traders make better decisions based on market sentiment.
Jan 19, 2021 at 10:30 a.m. UTCUpdated Aug 19, 2021 at 6:41 a.m. UTC
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South Korean fintech firm Dunamu, operator of cryptocurrency exchange Upbit, has developed a digital assets "fear and greed" index aimed to help investors and traders make better decisions.
- Dunamu’s new tool will reflect five different levels of sentiment, from ”extreme fear“ to ”extreme greed,” according to The Korea Herald's report Tuesday.
- Updated every five minutes, the index uses data on market volatility along with the trading price and transaction volume.
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- “As many domestic digital asset investors use global indexes, we decided to introduce one that can help domestic investors,” a Dunamu representative told The Korea Herald.
- Fear-and-greed indices are said to be able to help traders better decide when the market is acting emotionally one way or the other. For example, extreme greed indicates that the market is over-optimistic, while extreme fear means it is over-cautious.
- Dunamu also developed a real-time index of all the digital assets listed on its cryptocurrency exchange, called the the Upbit Market Index.
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