Table 2.
Descriptive statistics, January 1, 2020–April 15, 2021.
| Cryptos | Mean | Median | Stdev | Skewness | Kurtosis | ADF test | PP test |
|---|---|---|---|---|---|---|---|
| BTC | 0.4657 | 0.2999 | 4.1236 | −2.8553 | 36.4047 | −7.6261⁎⁎⁎ | −22.8540⁎⁎⁎ |
| ETH | 0.6299 | 0.6411 | 5.3881 | −2.3175 | 25.1589 | −7.6261⁎⁎⁎ | −22.8540⁎⁎⁎ |
| BNB | 0.4282 | 0.7806 | 6.4425 | 0.1183 | 21.3872 | −7.2228⁎⁎⁎ | −23.5020⁎⁎⁎ |
| XRP | 0.4760 | 0.2536 | 7.0978 | 0.0560 | 16.8048 | −7.8251⁎⁎⁎ | −23.6020⁎⁎⁎ |
| USDT | 0.0001 | 0.0000 | 0.5066 | 0.1668 | 42.6054 | −12.6780⁎⁎⁎ | −47.2190⁎⁎⁎ |
| DOGE | 0.9550 | 0.0687 | 10.4249 | 7.0499 | 96.0943 | −7.1074⁎⁎⁎ | −20.8150⁎⁎⁎ |
| ADA | 0.8084 | 0.5980 | 6.3995 | −0.5948 | 9.5555 | −7.4485⁎⁎⁎ | −23.9900⁎⁎⁎ |
| BCH | 0.3068 | 0.2976 | 5.9851 | −1.6480 | 19.0209 | −7.7515⁎⁎⁎ | −23.6620⁎⁎⁎ |
| LTC | 0.4110 | 0.3326 | 5.4266 | −1.2886 | 11.2663 | −7.9719⁎⁎⁎ | −23.1970⁎⁎⁎ |
| LINK | 0.6760 | 0.5305 | 6.9432 | −1.3321 | 13.9770 | −7.5428⁎⁎⁎ | −23.5210⁎⁎⁎ |
| VET | 0.7467 | 0.4893 | 7.2907 | −1.0998 | 11.6196 | −7.4856⁎⁎⁎ | −24.3100⁎⁎⁎ |
| XLM | 0.5035 | 0.4104 | 5.7931 | 0.5825 | 4.0205 | −7.1054⁎⁎⁎ | −23.0920⁎⁎⁎ |
| THETA | 1.0562 | 0.7070 | 7.5554 | −0.7209 | 9.6662 | −7.1387⁎⁎⁎ | −23.8870⁎⁎⁎ |
| TRX | 0.5339 | 0.4091 | 5.9810 | −0.9606 | 15.1603 | −7.6996⁎⁎⁎ | −23.6040⁎⁎⁎ |
| XMR | 0.4972 | 0.7031 | 4.6373 | −0.0389 | 3.2028 | −8.0769⁎⁎⁎ | −25.0430⁎⁎⁎ |
| LUNA | 0.8871 | 0.0441 | 7.7686 | 2.0443 | 12.2603 | −6.0358⁎⁎⁎ | −23.2840⁎⁎⁎ |
| EOS | 0.2373 | 0.0000 | 5.7507 | −1.4887 | 14.1100 | −7.5987⁎⁎⁎ | −23.7560⁎⁎⁎ |
| MIOTA | 0.5553 | 0.4726 | 6.4029 | −0.9486 | 13.5693 | −7.1828⁎⁎⁎ | −23.4540⁎⁎⁎ |
| CRO | 0.4221 | 0.5938 | 5.7622 | −0.8477 | 20.8193 | −7.2775⁎⁎⁎ | −23.8250⁎⁎⁎ |
| BTT | 0.7154 | 0.1353 | 7.4632 | 2.0165 | 28.0499 | −7.3113⁎⁎⁎ | −21.6060⁎⁎⁎ |
| HT | 0.4342 | 0.2120 | 5.4999 | −0.0868 | 27.7893 | −8.3462⁎⁎⁎ | −25.0360⁎⁎⁎ |
| XTZ | 0.3435 | 0.3809 | 6.3650 | −1.7636 | 17.9125 | −7.5456⁎⁎⁎ | −24.6590⁎⁎⁎ |
| ETC | 0.3930 | 0.3610 | 5.9775 | −1.0310 | 14.4313 | −6.4224⁎⁎⁎ | −22.6370⁎⁎⁎ |
| ALGO | 0.4196 | 0.2798 | 7.2276 | −1.3477 | 14.8941 | −7.8868⁎⁎⁎ | −22.6910⁎⁎⁎ |
| DAI | 0.0004 | 0.0000 | 1.1510 | −0.5054 | 11.9009 | −10.5170⁎⁎⁎ | −48.3900⁎⁎⁎ |
| RUNE | 1.1314 | 0.5128 | 8.4061 | −0.0714 | 1.9992 | −7.7539⁎⁎⁎ | −22.7610⁎⁎⁎ |
| DASH | 0.4403 | 0.3377 | 6.6058 | 0.6895 | 13.4843 | −7.4976⁎⁎⁎ | −22.2580⁎⁎⁎ |
| CHZ | 0.9183 | 0.2826 | 8.4353 | 0.8763 | 24.0266 | −6.1304⁎⁎⁎ | −21.1370⁎⁎⁎ |
| XEM | 0.5550 | 0.2808 | 6.6671 | −0.4380 | 6.5745 | −7.2193⁎⁎⁎ | −23.1780⁎⁎⁎ |
| STX | 0.7088 | 0.1359 | 8.4846 | 0.7461 | 26.7971 | −7.8474⁎⁎⁎ | −25.6710⁎⁎⁎ |
Notes:
The augmented Dickey–Fuller (ADF) and Philip–Perron (PP) test used to check the unit root of return series.
***
Significance at the 5%.