Abstract
This paper studies the survival of cryptocurrencies and their association with the social media attention they receive. The death of a cryptocurrency is defined based on the discontinuation of trading activities and modeled using Kaplan – Meier Survivor Function and the Cox survival regressions. Using data collected from coinmarketcap.com and bitcointalk.org, we find that social media attention is a very relevant influencer for the death hazard. Specifically, the death hazard of a cryptocurrency is estimated to increase by 0.5% - 1% for each additional trading day without any social media mention. We also find that high-quality social media mentions are more effective in reducing the death hazard. The theoretical and practical implications of the findings are discussed in the paper.
Recommended Citation
Xie, Peng and Du, Hongwei, "Social Media Attention and the “Death” of Cryptocurrency: A Hazard Model Perspective" (2023). PACIS 2023 Proceedings. 115.
https://aisel.aisnet.org/pacis2023/115
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Comments
Paper Number 1470; Track Blockchain; Short Paper