Upbit is the Korea's largest cryptocurency exchange. Upbit has announced the country's first cryptocurrency index.
A new Korean crypto exchange that quickly build itself as the country’s biggest by trading volume, launches its first domestic cryptocurrency index in a bid which aims help crypto investors understand more in overall market trends. Dubbed the UBCI (Upbit Crypto Index), the index will be measured from four market indices based on long-term transactional data at the exchange by calculating standard values in confidence intervals, Business Korea reports.
Here are the four indices as follows:
- Market Index: A total cryptocurrency marketcap-weighted index that factors the market’s total liquidity ratio while providing investors an overview of all coins.
- Sector Index: An index that will classify coins in their own specific sectors based on their characteristics.
- Bitcoin Index: An index focusing on bitcoin trading prices in the market; and
- Strategy Index: A rule-based index to serve as an indicator of quantitative investors rules and tracking yields of investors’ crypto portfolios.
Source: https://www.ccn.com/crypto-exchange-upbit-launches-koreas-first-cryptocurrency-index/