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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.
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.
STORY CONTINUES BELOW
- 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.
- “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.
Read more: Upbit Operator Dunamu Invested $46 Million in Blockchain Startups in Last Year
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
