SURVIVAL OF THE FITTEST: A NATURAL EXPERIMENT FROM CRYPTO EXCHANGES-Reference-Cited by-同舟云学术

SURVIVAL OF THE FITTEST: A NATURAL EXPERIMENT FROM CRYPTO EXCHANGES

Published:2021-03-20 Issue: Volume: Page:1-20
ISSN:0217-5908
Container-title:The Singapore Economic Review
language:en
Short-container-title:Singapore Econ. Rev.

Author:

AYSAN AHMET FARUK¹^ORCID,KHAN ASAD UL ISLAM²,TOPUZ HUMEYRA³,TUNALI AHMET SEMIH⁴

Affiliation:

1. Hamad Bin Khalifa University, Islamic Finance and Economy, College of Islamic Studies, Qatar

2. Department of Economics, School of Humanities and Social Sciences, Ibn Haldun University, Turkey

3. Department of Business Administration Universidad Carlos III de Madrid, Spain

4. Department of Economics, Faculty of Economics and Administrative Sciences, Middle East Technical University, Turkey

Abstract

This paper explores the applicability of universal cryptocurrency exchange by analyzing crypto exchanges of Binance, Latoken, Kucoin and Qash, which also have their own cryptocurrencies in the crypto market. Results of the recursive Johansen cointegration test proved that even though all of the cryptocurrencies have cointegration among each other, Binance positively disassociated itself from the others after it moved to Malta on 23 March 2018. Based on the daily prices of cryptocurrencies over the period from 6 November 2017 to 10 November 2019, taken from coinmarketcap, we conclude that Binance can be considered as a survival of the fittest among all of the crypto exchanges in this natural experiment.

Publisher

World Scientific Pub Co Pte Lt

Subject

Economics and Econometrics

Link

https://www.worldscientific.com/doi/pdf/10.1142/S0217590821470020

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