. 2022 Sep 1;36:100747. doi: 10.1016/j.jbef.2022.100747

Table 4.

Results of impact of COVID-19 news on cryptocurrency returns using transfer entropy, January 1, 2020–April 15, 2021.

Cryptos	Panic	Media_ Hype	Fake	Sentiment	Infodemic	Media_ Coverage
BTC	0.0205^⁎	0.0164^⁎	0.0222^⁎⁎	0.0216^⁎	0.0070	0.0136^⁎
ETH	0.0137^⁎	0.0078	0.0165^⁎	0.0171^⁎	0.0089	0.0069
BNB	0.0137^⁎	0.0101^⁎	0.0132	0.0148	0.0107^⁎	0.0108^⁎
XRP	0.0076	0.0107^⁎	0.0087	0.0063	0.0068	0.0101^⁎
USDT	0.0396^⁎⁎⁎	0.0366^⁎⁎⁎	0.0223^⁎	0.0279^⁎⁎	0.0166^⁎⁎	0.0214^⁎⁎⁎
DOGE	0.0091	0.0091	0.0085	0.0087	0.0091	0.0091
ADA	0.0092	0.0115^⁎	0.0119	0.0039	0.0116^⁎	0.0118^⁎⁎
BCH	0.0278^⁎⁎	0.0247^⁎⁎⁎	0.0257^⁎⁎⁎	0.0091	0.0243^⁎⁎⁎	0.0225^⁎⁎⁎
LTC	0.0133^⁎	0.0114^⁎	0.0079	0.0071	0.0085	0.0077
LINK	0.0195^⁎	0.0087	0.0148	0.0210^⁎⁎	0.0112^⁎	0.0074
VET	0.0129^⁎⁎	0.0108	0.0153^⁎	0.0077	0.0107^⁎⁎	0.0106^⁎
XLM	0.0145^⁎	0.0096^⁎	0.0093	0.0073	0.0086	0.0053
THETA	0.0123	0.0115^⁎	0.0107	0.0078	0.0083	0.0106^⁎
TRX	0.0075	0.0103^⁎	0.0105	0.0103	0.0068	0.0103^⁎
XMR	0.0260^⁎⁎	0.0192^⁎⁎	0.0335^⁎⁎⁎	0.0164^⁎	0.0207^⁎⁎⁎	0.0208^⁎⁎
LUNA	0.0106	0.0100^⁎	0.0149^⁎	0.0102^⁎	0.0132^⁎	0.0128^⁎
EOS	0.0093	0.0086	0.0083	0.0124^⁎	0.0068	0.0054
MIOTA	0.0246^⁎⁎	0.0113^⁎	0.0143^⁎	0.0218^⁎	0.0130^⁎	0.0101^⁎
CRO	0.0184^⁎	0.0129^⁎	0.0018	0.0101	0.0165^⁎	0.0084
BTT	0.0111	0.0108^⁎	0.0144^⁎	0.0088	0.0112^⁎	0.0115
HT	0.0118^⁎	0.0119^⁎	0.0141^⁎	0.0098	0.0115^⁎	0.0094
XTZ	0.0175^⁎	0.0064	0.0128	0.0136^⁎	0.0065	0.0093
ETC	0.0129	0.0124^⁎	0.0120	0.0127^⁎	0.0022	0.0110^⁎
ALGO	0.0081	0.0118^⁎	0.0118	0.0059	0.0126^⁎	0.0082
DAI	0.0480^⁎⁎⁎	0.0396^⁎⁎⁎	0.0183^⁎	0.0489^⁎⁎⁎	0.0293^⁎⁎⁎	0.0462^⁎⁎⁎
RUNE	0.0099	0.0117	0.0153^⁎	0.0107	0.0078	0.0106^⁎
DASH	0.0271^⁎⁎	0.0219^⁎⁎⁎	0.0228^⁎	0.0191^⁎	0.0235^⁎⁎⁎	0.0237^⁎⁎
CHZ	0.0099	0.0125^⁎	0.0097	0.0098	0.0104^⁎	0.0091
XEM	0.0129	0.0157^⁎	0.0129	0.0110	0.0122^⁎	0.0157^⁎⁎
STX	0.0113	0.0173^⁎⁎	0.0111	0.0129^⁎	0.0063	0.0078

Significance at the 10% level.

^**

Significance at the 5% level.

^***

Significance at the 1% level.