Cryptocurrency co-movements and Crypto Exchange Movement: The Relocation of Binance

Submitted by Umar Farooq Patel on Tue, 08/30/2022 - 17:07
Year
2022
Language
English
Abstract
Binance, the largest cryptocurrency exchange by traded value, relocated from Hong Kong (origin market) to Malta (destination market). This study exploits this relocation event by examining the comovement of Binance’s native token with the native tokens of other cryptocurrency exchanges in the origin and destination markets. Using multivariate regression analysis, our results show that Binance experienced a significant decline in comovement with its origin market after moving to Malta. The results are less evident for the destination market; however, an increase in comovement immediately after the relocation of Binance is notable.
English
ISSN/ISBN
1544-6123
No. of Pages
1-7
Volume
48
Select type of work
Name of the Journal
CIS publications
Yes
CIS Thesis
No
Status
Pending
Issue
102989
Cite Score
9.3
Publication Month
August
Author Affiliation
College of Islamic Studies
Highest Percentile
97%