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In this paper we analyse the effects of information flows in cryptocurrency markets. We first define a cryptocurrency trading network, i.e. the network made using cryptocurrencies as nodes and the Granger causality among their weekly log…

Trading and Market Microstructure · Quantitative Finance 2022-07-11 Tomas Scagliarini , Giuseppe Pappalardo , Alessio Emanuele Biondo , Alessandro Pluchino , Andrea Rapisarda , Sebastiano Stramaglia

Robustness in response to unexpected events is always desirable for real-world networks. To improve the robustness of any networked system, it is important to analyze vulnerability to external perturbation such as random failures or…

Social and Information Networks · Computer Science 2017-02-01 Alan Kuhnle , Nam P. Nguyen , Thang N. Dinh , My T. Thai

A model of an evolving network of interacting molecular species is shown to exhibit repeated rounds of crashes in which several species get rapidly depopulated, followed by recoveries. The network inevitably self-organizes into an…

Adaptation and Self-Organizing Systems · Physics 2009-11-07 Sanjay Jain , Sandeep Krishna

The efficient market hypothesis has far-reaching implications for financial trading and market stability. Whether or not cryptocurrencies are informationally efficient has therefore been the subject of intense recent investigation. Here, we…

Statistical Finance · Quantitative Finance 2019-02-06 Higor Y. D. Sigaki , Matjaz Perc , Haroldo V. Ribeiro

The year 2017 saw the rise and fall of the crypto-currency market, followed by high variability in the price of all crypto-currencies. In this work, we study the abrupt transition in crypto-currency residuals, which is associated with the…

Statistical Finance · Quantitative Finance 2019-11-11 Chengyi Tu , Paolo DOdorico , Samir Suweis

Cryptocurrencies return cross-predictability and technological similarity yield information on risk propagation and market segmentation. To investigate these effects, we build a time-varying network for cryptocurrencies, based on the…

Statistical Finance · Quantitative Finance 2021-08-27 Li Guo , Wolfgang Karl Härdle , Yubo Tao

Cryptocurrencies return cross-predictability and technological similarity yield information on risk propagation and market segmentation. To investigate these effects, we build a time-varying network for cryptocurrencies, based on the…

Methodology · Statistics 2022-11-18 Li Guo , Wolfgang Karl Härdle , Yubo Tao

We propose an algorithm to capture emergent patterns in the cross-correlations of financial markets, highlighting regime changes on a global scale. In our approach, financial markets are viewed as complex adaptive systems, and multiscale…

General Economics · Economics 2024-09-02 Marina Dolfin , George Kapetanios , Leone Leonida , Jose De Leon Miranda

The number of users approaching the world of cryptocurrencies exploded in the last years, and consequently the daily interactions on their underlying distributed ledgers have intensified. In this paper, we analyze the flow of these digital…

Networking and Internet Architecture · Computer Science 2021-10-29 Luca Serena , Stefano Ferretti , Gabriele D'Angelo

The Chinese stock market experienced an abrupt crash in 2015, and over one-third of its market value evaporated. Given its associations with fear and the fine resolution with respect to frequency, the illiquidity of stocks may offer a…

Computational Finance · Quantitative Finance 2021-11-15 Xiaoling Tan , Jichang Zhao

Understanding how information flows through the financial networks is important, especially during times of market turbulence. Unlike traditional assumptions where information travels along the shortest paths, real-world diffusion processes…

Statistical Finance · Quantitative Finance 2025-09-12 Pawanesh Pawanesh , Charu Sharma , Niteesh Sahni

Methodologies to infer financial networks from the price series of speculative assets vary, however, they generally involve bivariate or multivariate predictive modelling to reveal causal and correlational structures within the time series…

Physics and Society · Physics 2023-08-31 Cameron Cornell , Lewis Mitchell , Matthew Roughan

The review introduces the history of cryptocurrencies, offering a description of the blockchain technology behind them. Differences between cryptocurrencies and the exchanges on which they are traded have been shown. The central part…

Statistical Finance · Quantitative Finance 2021-03-10 Marcin Wątorek , Stanisław Drożdż , Jarosław Kwapień , Ludovico Minati , Paweł Oświęcimka , Marek Stanuszek

The control and risk assessment in complex information systems require to take into account extremes arising from nodes with large node degrees. Various sampling techniques like a Page Rank random walk, a Metropolis-Hastings Markov chain…

Statistics Theory · Mathematics 2015-02-18 Natalia Markovich

Clustering network is one of which complex network attracting plenty of scholars to discuss and study the structures and cascading process. We primarily analyzed the effect of clustering coefficient to other various of the single clustering…

Physics and Society · Physics 2016-10-18 Gaogao Dong , Huifang Hao , Ruijin Du , Shuai Shao , H. Eugene. Stanley , Havlin Shlomo

Cryptocurrency is a well-developed blockchain technology application that is currently a heated topic throughout the world. The public availability of transaction histories offers an opportunity to analyze and compare different…

Statistical Finance · Quantitative Finance 2018-08-28 Jiaqi Liang , Linjing Li , Daniel Zeng

The rapidly evolving cryptocurrency market presents unique challenges for investment due to its inherent volatility and evolving regulatory environment. Collective price movements can be exploited to construct diversified portfolios with…

Popular Physics · Physics 2026-05-01 Ruixue Jing , Ryota Kobayashi , Luis Enrique Correa Rocha

We study the information dynamics between the largest Bitcoin exchange markets during the bubble in 2017-2018. By analysing high-frequency market-microstructure observables with different information theoretic measures for dynamical…

Statistical Finance · Quantitative Finance 2022-05-04 Vaiva Vasiliauskaite , Fabrizio Lillo , Nino Antulov-Fantulin

We study the dependency and causality structure of the cryptocurrency market investigating collective movements of both prices and social sentiment related to almost two thousand cryptocurrencies traded during the first six months of 2018.…

Statistical Finance · Quantitative Finance 2019-03-05 Tomaso Aste

Cryptocurrency network analysis consists of applying the tools and methods of social network analysis to transactional data issued from cryptocurrencies. The main difference with most online social networks is that users do not exchange…

Social and Information Networks · Computer Science 2025-02-06 Natkamon Tovanich , Célestin Coquidé , Rémy Cazabet