Bubbles all the way down? Detecting and date-stamping bubble behaviours in NFT and DeFi markets

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dc.contributor.authorWang, Yizhi
dc.contributor.authorHorky, Florian
dc.contributor.authorBaals, Lennart J.
dc.contributor.authorETAL.
dc.date.accessioned2023-05-04T14:33:47Z
dc.date.accessioned2023-08-20T11:22:57Z
dc.date.available2023-05-04T14:33:47Z
dc.date.available2023-08-20T11:22:57Z
dc.date.issued2022-10
dc.description.abstractAmid surging market values and widespread regulatory discussion, NFT and DeFi markets are widely perceived as being simply speculative in nature. This paper detects the existence and dates of price bubbles in the NFT and DeFi markets by applying SADF and GSADF tests. We document that NFT and DeFi markets both exhibit speculative bubbles, with NFT bubbles being more recurrent and having higher average explosive magnitudes than DeFi bubbles. The price bubbles in the NFT and DeFi markets are highly correlated with market hype and with more general cryptocurrency market uncertainty. We do find periods where bubbles are not detected, suggesting that these markets do have some intrinsic value and should not be dismissed as simply bubbles. Keywords: FTs, DeFi, price bubbles, SADF and GSADF, Explosiveness
dc.identifier.citationWang, Y., Horky, F., Baals, L. J., Lucey, B. M., & Vigne, S. A. (2022). Bubbles all the way down? Detecting and date-stamping bubble behaviours in NFT and DeFi markets. Journal of Chinese Economic and Business Studies, 20(4), 415-436.
dc.identifier.doihttps://doi.org/10.1080/14765284.2022.2138161
dc.identifier.urihttps://edms.wexl.in/handle/1/5095
dc.publisherTaylor & Francis
dc.titleBubbles all the way down? Detecting and date-stamping bubble behaviours in NFT and DeFi marketsen_US
dc.typeArticleen_US

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