Cryptocurrency comovements and crypto exchange movement: The relocation of Binance

【Author】 Disli, Mustafa; Abd Rabbo, Fatima; Leneeuw, Thibault; Nagayev, Ruslan

【Source】FINANCE RESEARCH LETTERS

【影响因子】9.848

【Abstract】Binance, the largest cryptocurrency exchange by traded value, relocated from Hong Kong (origin market) to Malta (destination market). This study exploits this relocation event by examining the comovement of Binance's native token with the native tokens of other cryptocurrency exchanges in the origin and destination markets. Using multivariate regression analysis, our results show that Binance experienced a significant decline in comovement with its origin market after moving to Malta. The results are less evident for the destination market; however, an increase in comovement immediately after the relocation of Binance is notable.

【Keywords】Exchange relocation; Binance; Altcoins; Bitcoin; Comovement

【发表时间】2022 AUG

【收录时间】2022-08-15

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-市场分析