2020
DOI: 10.1016/j.ribaf.2019.101108
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The fair value of a token: How do markets price cryptocurrencies?

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Cited by 30 publications
(10 citation statements)
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“…Cryptocurrencies are not issued by central authorities; therefore, their value mostly comes from the scale of participation within the market. Still, value formation and fluctuations of cryptocurrencies are hotly debated topics in the literature (Aysan et al 2019(Aysan et al , 2020(Aysan et al , 2021a(Aysan et al , 2021bHayes 2017;Nadler and Guo 2020;Akyildirim et al 2021). Bitcoin is the most commonly used cryptocurrency among the various cryptocurrencies in the market.…”
Section: Introductionmentioning
confidence: 99%
“…Cryptocurrencies are not issued by central authorities; therefore, their value mostly comes from the scale of participation within the market. Still, value formation and fluctuations of cryptocurrencies are hotly debated topics in the literature (Aysan et al 2019(Aysan et al , 2020(Aysan et al , 2021a(Aysan et al , 2021bHayes 2017;Nadler and Guo 2020;Akyildirim et al 2021). Bitcoin is the most commonly used cryptocurrency among the various cryptocurrencies in the market.…”
Section: Introductionmentioning
confidence: 99%
“…This opens a new debate for a stream of research studies proposing the best valuation model for cryptocurrencies. Nadler & Guo in [119] offered an asset pricing model based on market risk and blockchain-related risk factors. Saad et al [120] tried to identify the supply and demand dynamics of cryptocurrencies and construct a machine learning model to predict its prices.…”
Section: Future Research Themes and Topicsmentioning
confidence: 99%
“…Our focus is solely on blockchain adoption in banking and not cryptocurrencies. These literature focus on many cryptocurrency aspects such as price bubbles (Cheah and Fry 2015;Fry and Cheah 2016;Cheung et al 2015;Corbet et al 2018a;Gandal et al 2018;Bianchetti et al 2018;Chaim and Laurini 2019;Geuder et al 2019;Kallinterakis and Wang 2019;Sifat et al 2019;Xiong et al 2019;Shu and Zhu 2020), Bitcoin price determinants and characteristics (Akyildirim et al 2020;Ammous 2018;Beneki et al 2019;Bianchetti et al 2018;Bouoiyour et al 2016;Cagli 2019;Caporale et al 2018;De Sousa and Pinto 2019;Dwyer 2015;Corbet et al 2018b;Corbet et al 2019aCorbet et al , 2019bCorbet et al , 2019cFlori 2019;Corbet et al 2020aCorbet et al , 2020bHandika et al 2019;Hayes 2019;Fry 2018;Mensi et al 2019;Ma and Tanizaki 2019;Nadler and Guo 2020;Nguyen et al 2019aNguyen et al , 2019bPanagiotidis et al 2018;Phillips and Gorse 2018;Puljiz et al 2018;Pyo a...…”
Section: Buterinmentioning
confidence: 99%