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Chapter 6: Green Cryptocurrencies and Investor Attention: The Case of Cardano Coin

    https://doi.org/10.1142/9781800614604_0006Cited by:0 (Source: Crossref)
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    Abstract:

    This research aims to examine the relationship between Cardano (ADA) return, which is used as a proxy for green cryptocurrency, and Google search volume (GSV), which is used as a proxy for investor attention. The weekly data cover the period from January 2018 to June 2022. To analyse the causal relationship between investor attention and Cardano returns, the VAR model and Granger causality tests are implemented. As a result, it is found that there is a bidirectional relationship between Cardano returns and investor attention. However, while changes in investor attention have little impact on the Cardano returns, changes in Cardano returns have a substantial impact on investors’ search intensity. Finally, it is concluded from the VAR results that both variables positively affect each other.

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