Upbit Offers Various 'Virtual Asset Indices'... Enhancing Investment Accessibility

BTC-ETH Duo Index, 3-Month Return of 62.58%
Upbit to Launch Various Investor-Customized Indices Soon

Recently, the price of Bitcoin surpassed 100 million KRW on domestic cryptocurrency exchanges. This has deepened the concerns of investors with no prior experience in cryptocurrency investment. Although they want to invest due to the expectation that prices will continue to rise, it is difficult to understand the characteristics of individual assets like Bitcoin and altcoins, and the high volatility makes them hesitant to invest.

In the stock market, if investors lack understanding of individual stocks or want to diversify their investments, they can invest in products that track the KOSPI. Similarly, there is an index that helps novice investors who feel burdened by individual cryptocurrency investments to understand the cryptocurrency market. This is the Upbit Cryptocurrency Index Service (UBCI), developed by Dunamu, the operator of the cryptocurrency exchange Upbit.

According to Upbit on the 29th, Dunamu developed the first cryptocurrency index service in Korea in 2018 to provide an indicator that allows users to grasp the trading flow of the cryptocurrency market at a glance. Currently, Upbit is the only domestic cryptocurrency exchange offering this service.

A representative cryptocurrency index is the Upbit Market Index (UBMI). UBMI shows the market capitalization and market movements of all cryptocurrencies traded on Upbit’s KRW market. Just as investors refer to the KOSPI to understand the overall stock market trends, the overall flow of the cryptocurrency market can be checked through UBMI. UBMI started at 1,000 points on October 1, 2017, and recorded 15,605 points as of March 25 this year.

The index receiving the most attention among investors recently is the BTC-ETH Duo Strategy Index. As of the 22nd, the BTC-ETH Duo Index’s three-month return was 62.58%, which is 1.49 percentage points higher than the UBMI return of 61.09% during the same period.

The BTC-ETH Duo Index is a strategic index composed of Bitcoin (BTC), ranked first in market capitalization, and Ethereum (ETH), ranked second. It applies an equal-weighted method, adjusting Bitcoin and Ethereum monthly at a 1:1 ratio.

The reason for the high returns of the BTC-ETH Duo Index is that after the approval of the Bitcoin spot Exchange-Traded Fund (ETF) in the U.S. in January, expectations for the approval of an Ethereum spot ETF also increased. Additionally, the upcoming Bitcoin halving scheduled for April is stimulating investor sentiment.

In fact, the price of Bitcoin on Upbit was around 50 million KRW in January but surged nearly twofold to surpass 100 million KRW for the first time in history within two months. Ethereum also rose from the 3 million KRW range to about 5 million KRW during the same period.

Besides these, Dunamu provides ▲ the Upbit Altcoin Index (UBAI), which shows movements in the altcoin market ▲ the UBMI 30 and UBMI 10 indices, which track the top 30 and top 10 cryptocurrencies by market capitalization ▲ thematic indices that gather specific themes such as the Ethereum group and DeFi (Decentralized Finance) ▲ and strategic indices that select cryptocurrencies with historically strong returns or those aiming for a rebound.

A Dunamu representative stated, "Investors can understand the current flow of the cryptocurrency market through the Upbit Cryptocurrency Index and check strategies or themes with good investment returns. We plan to continuously launch new indices that provide useful information to investors."