‘Extreme greed’ in crypto investing, authorities step up scrutiny

Recently, the Fear and Greed Index of the cryptocurrency market has entered the ‘Extreme Greed (83)’ zone, and Upbit’s Fear and Greed Index is also pointing to the ‘Greed (75.16)’ stage, raising concerns about the market overheating. In particular, the Upbit Market Index (UBMI) has recently shown a weekly average of ‘Very Greedy (82)’.

In this situation, as deposits have increased by 2.4 trillion won since the end of October, and the trading volume has more than doubled, the financial authorities have decided to establish a hotline with exchanges to monitor abnormal transactions and crack down on unfair transactions. In particular, they plan to crack down on rumors and false information spreading and related pre-trading that take advantage of the recent overheated market conditions.

In response, exchanges are also strengthening their market surveillance systems. Upbit has added a market trend monitoring function to its ‘UMO’ system to identify unfair trading behavior immediately. Coinone is also operating its monitoring system to detect unauthorized issuance of tokens, interrupted transfers, and asset freezes in real-time.

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