Herding behavior in conventional cryptocurrency market, non-fungible tokens, and DeFi assets

【Author】 Yousaf, Imran; Yarovaya, Larisa

【Source】FINANCE RESEARCH LETTERS

【影响因子】9.848

【Abstract】We examine the static and time-varying herding behavior in three cryptocurrency classes: 'con-ventional' cryptocurrencies, non-fungible tokens, and DeFi assets during the most recent cryp-tocurrency bubble of 2021. While static herding analysis failed to demonstrate any evidence of herding, the time-varying herding has been identified in conventional cryptocurrencies and DeFi assets for the short investment horizons. The herding asymmetry analysis reveals that herding is not evident in conventional cryptocurrencies and NFT during up/down market, high/low vola-tility days, and high/low trading days. We only find herding in DeFi assets during the low volatility days.

【Keywords】NFT herding; Cryptocurrencies; Non -fungible tokens; DeFi assets; Cryptocurrency bubble

【发表时间】2022 DEC

【收录时间】2022-10-05

【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