Cover image
MAR 12, 2024

Korean crypto exchange Upbit launches BTC-ETH Duo Index

by CoinNess Global

Dunamu, the operator of South Korea’s leading crypto exchange Upbit, announced today that it launched a new crypto price tracking service, Bitcoin-Ethereum Duo Index (Duo Index). The news was reported by the local media outlet Etoday. 
The service tracks the two most prominent tokens, Bitcoin and Ethereum, each being the top performer and the runner-up in terms of market capitalization in the crypto asset market. It is a strategy index that equally weights Bitcoin and Ethereum, with their holding ratio updated to 1:1 every month. The weightings of the two cryptocurrencies in the index are subject to an adjustment factor, which is based on their prices. The BTC-ETC Duo Index is currently available on the Upbit Cryptocurrency Index (UBCI) website. 
The Federal Reserve’s approval of spot Bitcoin ETFs in January has drawn significant attention from many investors, driving up the prices not only of Bitcoin but also Ethereum. Dunamu explained that this heightened interest surrounding Bitcoin and Ethereum is the reason behind its launch of the Duo Index.

New tool to boost crypto portfolio’s performance 

Referencing the Duo Index can help investors estimate their own crypto assets portfolios and boost their performances based on the indicators it offers, including the winning rate of the two coins combined.  
The current winning rate of the Duo Index stands at over 58%, which is three percentage points higher than that of the Upbit Market Index (UBMI), which tracks not only Bitcoin and Ethereum but also other altcoins. The high winning rate of the Duo Index demonstrates the bullish sentiment surrounding the two top coins.
A Dunamu official stated that the company will continue to keep up with the crypto market trend and further release other strategy indices that would serve the emerging needs of the investors. 
To comment, please sign in.
Article has no comments yet.