Dunamu, operator of the country’s largest cryptocurrency exchange, announced on Sunday its top five digital asset index with financial market tracker FnGuide, amid a growing interest in cryptocurrency investment.
The index is based on Dunamu’s real time transaction data of digital assets in the Korean won market, while FnGuide analyzes that data to rank the top five cryptocurrencies by market capitalization.
The top two cryptocurrencies on Friday were Bitcoin and Ethereum, the index showed. Each of them had a 30.9 percent and 30.7 percent weighting in the index, taking up a substantial portion. The rest were Ada, Ripple and Dogecoin with a combined 38.4 percent weighting.
The index differs from the 24-hour digital asset market as it is based on opening and closing prices from 9 a.m. to 3:30 p.m.
“The index adopts the same system as Korean stock market so that investors can reduce risks when making transactions in price volatile cryptocurrencies. We expect both retail and institutional investors to use the index as their diversified portfolios,” Dunamu and FnGuide said in a statement.
Meanwhile, Dunamu has also been compiling a fear and greed index of digital assets since January. It is used to gauge whether investors are “in fear,” and thus drives down share prices or “in greed,” which sends prices in the opposite direction.
Dunamu provides the index report to South Korean news agencies it is partnering with.
변혜진(2021.07.18) Dunamu and FnGuide announce top 5 digital assets
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