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Green Cryptocurrencies and Investor Attention: The Case of Cardano Coin

In: Fintech and Green Investment Transforming Challenges into Opportunities

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  • Zeliha Can Ergün

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.

Suggested Citation

  • Zeliha Can Ergün, 2024. "Green Cryptocurrencies and Investor Attention: The Case of Cardano Coin," World Scientific Book Chapters, in: Cuong Nguyen & Khanh Hoang & Christopher Gan (ed.), Fintech and Green Investment Transforming Challenges into Opportunities, chapter 6, pages 163-180, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781800614604_0006
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    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • G2 - Financial Economics - - Financial Institutions and Services

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