Age and market capitalization drive large price variations of cryptocurrencies.

ABSTRACT: Cryptocurrencies are considered the latest innovation in finance with considerable impact across social, technological, and economic dimensions. This new class of financial assets has also motivated a myriad of scientific investigations focused on understanding their statistical properties, such as the distribution of price returns. However, research so far has only considered Bitcoin or at most a few cryptocurrencies, whilst ignoring that price returns might depend on cryptocurrency age or be influenced by market capitalization. Here, we therefore present a comprehensive investigation of large price variations for more than seven thousand digital currencies and explore whether price returns change with the coming-of-age and growth of the cryptocurrency market. We find that tail distributi

SUBMITTER: Pessa AAB 

PROVIDER: S-EPMC10063656 | biostudies-literature | 2023 Mar

REPOSITORIES: biostudies-literature