Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)

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Volatility Spillovers of New Cryptocurrencies Over Traditional Cryptocurrencies in the NFT Market: A Case Study of Mana

Authors
Maosen Tang1, *
1Department of Accounting, Hubei University of Economics, Wuhan, China
*Corresponding author.
Corresponding Author
Maosen Tang
Available Online 31 December 2022.
DOI
10.2991/978-94-6463-036-7_238How to use a DOI?
Keywords
NFT; Cryptocurrency; DCC-GARCH model; Volatility Spillovers; Cryptofinance
Abstract

This study uses the DCC-GARCH model to compare the correlation between two types of cryptocurrencies in two different fields. In the context of the popularity of NFTs and the metaverse, new cryptocurrencies based on the metaverse have been favored by investors. Through empirical analysis of mana cryptocurrencies in the NFT market, we find that the new cryptocurrencies in the NFT market have high volatility to Bitcoin, Ethereum, and traditional cryptocurrencies in the past year. Therefore, we conclude that new cryptocurrencies are more likely to be one of the factors for portfolio diversification.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
31 December 2022
ISBN
10.2991/978-94-6463-036-7_238
ISSN
2352-5428
DOI
10.2991/978-94-6463-036-7_238How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Maosen Tang
PY  - 2022
DA  - 2022/12/31
TI  - Volatility Spillovers of New Cryptocurrencies Over Traditional Cryptocurrencies in the NFT Market: A Case Study of Mana
BT  - Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
PB  - Atlantis Press
SP  - 1592
EP  - 1597
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-036-7_238
DO  - 10.2991/978-94-6463-036-7_238
ID  - Tang2022
ER  -