Hot issue markets for initial coin offerings

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Date

2019

Author

Özkan, Önder Aral

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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

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This study analyzes the market for initial coin offerings (ICOs) of cryptocurrencies. We focus on the hot issue market phenomenon in this market by performing correlation, run and regression analyses and examine the relationship between past and future coin offerings. We use www.coinmarketcap.com and www.cci30.com as our main data sources. For a sample of 759 cryptocurrency offerings between 2015 and 2019, we show that there are 23 hot and 23 cold months. The results indicate that the number of ICOs in the past positively affect the decision to offer new coins to the market.

Subject Keywords

Crypto Coin, Initial Coin Offering, Crypto Coin, Hot Market, Cold Market, Initial Public Offering.

URI

http://etd.lib.metu.edu.tr/upload/12624768/index.pdf
https://hdl.handle.net/11511/45207

Collections

Graduate School of Social Sciences, Thesis

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Citation Formats

Ö. A. Özkan, “Hot issue markets for initial coin offerings,” Thesis (M.S.) -- Graduate School of Social Sciences. Business Administration., Middle East Technical University, 2019.