Upbit Data Lab Expands On-Chain Index Lineup with New Ethereum-Based Indexes

Upbit Data Lab has made a significant move in the world of cryptocurrency investment analysis by launching four new on-chain indexes. The addition brings the total number of indexes to six, with the new ones focusing on Ethereum-based ERC-20 tokens traded on Upbit's Korean won market.

The new indexes are based on joint research between Upbit and academia, using a quantitative analysis methodology from a study titled 'On-Chain Factors and Cryptocurrency Asset Pricing: Evidence from Ethereum-Based Tokens'. This approach applies to live markets a framework for interpreting investment trends in Ethereum network activity.

The Ethereum Wallet Active Index selects assets based on the number of active wallets relative to market capitalization, while the Ethereum Transaction Active Index is constructed using transaction counts relative to market capitalization. Both indexes are designed to identify undervalued or overvalued assets and will be adjusted through monthly rebalancing.