Cryptocurrencies: An Epitome of Technological Populism

Title

Cryptocurrencies: An Epitome of Technological Populism

Creator

Arumugam S.K.; Dhaku C.R.; Toms B.

Description

From a global perspective, which holds significant cryptocurrencies, this study discusses the volatility and spillover effect between the whales cryptocurrencies. Volatility in cryptocurrency markets has always been a time-varying concept that changes over time. As opposed to the stock market, which has historically and recently, the cryptocurrency market is much more volatile. The markets have evidenced many fluctuations in the prices of cryptos. As a result, countries are transforming their policies to suit financial technologies in their economic practices. Blockchain technology allows people to obtain more benefits in a financial transaction and breaks hurdles in the financial system. The study has found no ARCH effect in BinanceCoin, BT Cash, Bitcoin, Vechain, and Zcash. It is discovered that there is an ARCH effect in the case of Ethereum, Tether, Tezos, and XRP. Whale cryptocurrencies have an ARCH effect. Daily closing prices of ten cryptocurrencies, including bitcoin, from January 1, 2019, to December 31, 2020, to determine the price volatility where the bitcoin whales hold significant cryptocurrency values. It has given significant results in case of volatility since we also found that Bitcoin's largest cryptocurrencies among the sample taken for the study have less volatility than other currencies. 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.

Source

Lecture Notes in Networks and Systems, Vol-717 LNNS, pp. 477-486.

Date

2023-01-01

Publisher

Springer Science and Business Media Deutschland GmbH

Subject

Bitcoin; Blockchain; Cryptocurrency; Populist; Volatility

Coverage

Arumugam S.K., Department of Professional Studies, CHRIST (Deemed to be University), Karnataka, Bangalore, India; Dhaku C.R., School of Commerce, Finance and Accountancy, CHRIST (Deemed to be University), Karnataka, Bangalore, India; Toms B., School of Commerce, Finance and Accountancy, CHRIST (Deemed to be University), Karnataka, Bangalore, India

Rights

Restricted Access

Relation

ISSN: 23673370; ISBN: 978-303135509-7

Format

Online

Language

English

Type

Conference paper

Identifier

https://doi.org/10.1007/978-3-031-35510-3_45

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85173568201&doi=10.1007%2f978-3-031-35510-3_45&partnerID=40&md5=89f039cf60b3535e46887dc881931d0d