Upbit, the largest domestic virtual asset exchange, has been maintaining a market sentiment index in the 'neutral' range for consecutive months, with investors adopting a wait-and-see approach.
According to Upbit DataLab as of August 16th, the 'Fear and Greed Index' based on Upbit is recording 'neutral (56)'. This is the same figure as one day and one week prior, indicating a recent short-term stagnation. In contrast, compared to 'greed (65)' one month ago and 'greed (60)' three months ago, there is a somewhat weakened overall optimistic sentiment.
The most sentiment-contracted 'fear' tokens are ▲Virtual Protocol (30) ▲Kaito (35) ▲Stepn (39) ▲Blur (39) in order. All have dropped 2-4 points compared to the previous day, showing a gradually contracting investment sentiment. This is interpreted as a signal of decreasing investment interest due to trading volume slowdown or continued price adjustments.
In contrast, tokens with excessive 'greed' include ▲Mantle (85) ▲Ada (79) ▲Wave (69) ▲Chainlink (69) ▲Pendle (68). Mantle and Ada are analyzed to maintain high buying sentiment despite dropping 4 points compared to the previous day.
Upbit Premium (based on USDT) is 1.55%, showing that the domestic market still demonstrates a higher buying intensity compared to the global average. On this day, tokens with the highest premium are ▲GoChain ▲Observer ▲Rally, each recording 100%, while ▲Swel Network (11.11%) and ▲Oasis (10.00%) also showed strong premium trends.
Meanwhile, ▲Jasmy Coin (–7.14%) ▲Sky Protocol (–6.25%) ▲NK&N (–4.17%) remained in the reverse premium area, trading at prices lower than the global average. This could be due to short-term profit-taking selling or downward pressure from demand slowdown.
Overall, the market is in a neutral phase with clear temperature differences between individual tokens, suggesting a need for selective approaches to some overheated and undervalued sections.
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