Investigation of sentiment in the green transformation of cryptocurrencies

Abstract

Cryptocurrencies are associated with a pressing problem for society – electricity consumption. This problem is particularly relevant when electricity is used from nonrenewable sources. Cryptocurrencies have investment potential but due to the environmental impact, sustainability-minded investors may refrain from investing in this asset. The main purpose of this paper is to identify the sentiment in the green transformation of cryptocurrencies. Cryptocurrency communities, which consist of investors, cryptocurrency developers or enthusiasts interested in this asset, often appear on the Internet or on various social media. Users share information and express their opinions on the trends of the cryptocurrency market on various social platforms. This study uses sentiment analysis to identify the sentiment of existing or prospective users in the green transformation of cryptocurrencies. The results of this study contribute to research that helps investors predict trends in the cryptocurrency market when making investment decisions. The methods of this study are the analysis of the scientific literature and the analysis of sentiment using Matlab software.