Abstract
From a global perspective, which holds significant cryptocurrencies, this study discusses the volatility and spillover effect between the whales’ cryptocurrencies. Volatility in cryptocurrency markets has always been a time-varying concept that changes over time. As opposed to the stock market, which has historically and recently, the cryptocurrency market is much more volatile. The markets have evidenced many fluctuations in the prices of cryptos. As a result, countries are transforming their policies to suit financial technologies in their economic practices. Blockchain technology allows people to obtain more benefits in a financial transaction and breaks hurdles in the financial system. The study has found no ARCH effect in BinanceCoin, BT Cash, Bitcoin, Vechain, and Zcash. It is discovered that there is an ARCH effect in the case of Ethereum, Tether, Tezos, and XRP. Whale cryptocurrencies have an ARCH effect. Daily closing prices of ten cryptocurrencies, including bitcoin, from January 1, 2019, to December 31, 2020, to determine the price volatility where the bitcoin whales hold significant cryptocurrency values. It has given significant results in case of volatility since we also found that Bitcoin's largest cryptocurrencies among the sample taken for the study have less volatility than other currencies.
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Arumugam, S.K., Dhaku, C.R., Toms, B. (2023). Cryptocurrencies: An Epitome of Technological Populism. In: Abraham, A., Pllana, S., Casalino, G., Ma, K., Bajaj, A. (eds) Intelligent Systems Design and Applications. ISDA 2022. Lecture Notes in Networks and Systems, vol 717. Springer, Cham. https://doi.org/10.1007/978-3-031-35510-3_45
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