Examining the Volatility of Conventional Cryptocurrencies and Sustainable Cryptocurrency during Covid-19: Based on Energy Consumption

Authors

  • V. Anandhabalaji Research Scholar, Bharathidasan School of Management, Bharathidasan University, Tiruchirappalli, Tamil Nadu, India,
  • Manivannan Babu Research Scholar, Bharathidasan School of Management, Bharathidasan University, Tiruchirappalli, Tamil Nadu, India,
  • J. Gayathri Department of Commerce and Financial Studies, Bharathidasan University, Tiruchirappalli, Tamil Nadu, India,
  • J. Sathya Sri Sarada College for Women, India,
  • G. Indhumathi Mother Teresa Women’s University, India,
  • R. Brintha Research Scholar, Bharathidasan School of Management, Bharathidasan University, Tiruchirappalli, Tamil Nadu, India,
  • Justin Nelson Michael School of management, Kristu Jayanti College, Autonomous, Bengalur, India.

DOI:

https://doi.org/10.32479/ijeep.14972

Keywords:

Cryptocurrency, Volatility, Covid-19, Sustainability, GARCH

Abstract

The present study proposes to investigate the influence of the covid-19, on the adjusted closing price of the digital currency based on energy consumption during the process of mining. The study employed the secondary data analysis of top ten market capitalization of cryptocurrencies with the combination of high energy consume mechanism (proof of work) and low energy consume mechanism (proof of stake). Statistical tools like Descriptive analysis,Augmented Dickey-Fuller (ADF) test, ARCH, and GARCH models were used in the study. The present study finds that the prices of cryptocurrencies were highly volatile. This study could assist investors towards better understanding of the dynamics of the cryptocurrency market based on energy consumption which helps them to make more effective decisions, on investing cryptocurrencies with a scientific approach.

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Published

2023-11-10

How to Cite

Anandhabalaji, V., Babu, M., Gayathri, J., Sathya, J., Indhumathi, G., Brintha, R., & Michael, J. N. (2023). Examining the Volatility of Conventional Cryptocurrencies and Sustainable Cryptocurrency during Covid-19: Based on Energy Consumption. International Journal of Energy Economics and Policy, 13(6), 344–352. https://doi.org/10.32479/ijeep.14972

Issue

Vol. 13 No. 6 (2023)

Section

Articles

License

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