Resumen:
We apply the (Phillips et al., 2015a,b) methodology to date-stamp bubbles in the Ethereum blockchain. Our analysis of the drivers of fundamental value suggests that the explosive behavior documented in ether prices does not constitute speculative bubbles but reflects the abrupt rally of demand for the use of the Ethereum Virtual Machine tied to the development of the decentralized application (dApp) ecosystem.
Palabras Clave: Cryptocurrency; Bubble; Ethereum; Explosiveness; Fundamentals
Índice de impacto JCR y cuartil WoS: 10,400 - Q1 (2022); 7,400 - Q1 (2023)
Referencia DOI:
https://doi.org/10.1016/j.frl.2021.102387
Publicado en papel: Mayo 2022.
Publicado on-line: Agosto 2021.
Cita:
C. Bellón, I. Figuerola-Ferretti Garrigues, Bubbles in ethereum. Finance Research Letters. Vol. 46, nº. Part B, pp. 102387-1 - 102387-6, Mayo 2022. [Online: Agosto 2021]
