Description
Title: Lifetime Analysis of Tokens and Cryptocurrencies from 2009 to 2021
Abstract: The popularity of Bitcoin has led to the emergence of countless alternative coins, some of which have already shut down after only a few weeks of operation and vanished with millions of dollars raised from enthusiasts through the initial coin offering (ICO) process. This has made investors, from the general public to institutional ones, hesitant to enter the cryptocurrency market, which has already been known for its high volatility. Investigating the lifespan and survivability of the available coins and tokens is therefore crucially important. Investors will gain more knowledge as a result, increasing their confidence to take risks in the cryptocurrency market. The survival analysis method is ideally suited to deliver the required data. In this study, we discuss the outcomes of coins and tokens that have survived since the first cryptocurrency was released in 2009. Non-parametric time-to-event analysis techniques, such as the Cox Proportional Hazard Model (CPHM) and the Aalen Additive Hazards Model (AAHM), are based on six covariates of interest. By evaluating the Kaplan-Meier estimates of survival functions at the levels of each covariate, the proportional hazards assumption (PHA) is verified. Results from various regression models show relative risks, standard errors, and covariates with and without significance. According to the findings, standalone blockchain-based cryptocurrencies were at a comparatively higher risk of collapsing. Additionally, it was discovered that the release of cryptocurrencies in the years 2013–2017 was at a high risk compared to that of cryptocurrencies in the years 2009–2013 and that cryptocurrencies with well-known headquarters had relatively better survival rates. This offers unmistakable warning signs to look out for when choosing the coins or tokens to invest in.
Keywords: cryptocurrency; blockchain; survival function; risk; weight; hazard ratio
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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