Table 1.
Descriptive statistics.
| Variable | Mean | Maximum | Minimum | Std. Dev. | Skewness | Kurtosis | J-B | ADF test |
|---|---|---|---|---|---|---|---|---|
| BTC | 20,550.920 | 63,503.460 | 4970.788 | 17,164.870 | 1.256 | 3.041 | 121.065*** | −20.839*** |
| ETH | 663.511 | 2519.116 | 110.606 | 642.837 | 1.319 | 3.315 | 135.303*** | −7.237*** |
| LTC | 90.543 | 310.613 | 30.931 | 64.056 | 1.338 | 3.604 | 144.325*** | −16.188*** |
| XRP | 0.345 | 1.839 | 0.140 | 0.257 | 3.148 | 14.534 | 3309.366*** | −19.521*** |
| XLM | 0.164 | 0.655 | 0.033 | 0.150 | 1.410 | 3.694 | 161.550*** | −20.614*** |
| BNB | 72.931 | 598.723 | 9.386 | 121.665 | 2.552 | 8.821 | 1148.964*** | −11.596*** |
| ADA | 0.290 | 1.482 | 0.024 | 0.401 | 1.706 | 4.243 | 252.737*** | −20.979*** |
| LINK | 12.650 | 42.753 | 1.780 | 9.969 | 0.994 | 2.953 | 75.764*** | −22.977*** |
| COVID | 317,048 | 912,826 | 81 | 240,338 | 0.381 | 2.043 | 28.701*** | −6.918*** |
Note: All currencies are measured in US$ and COVID shows the total No. of new COVID-19 cases per day.
ADF = augmented Dickey and Fuller (1979) test of stationary, J-B = Jarque-Bera test of Normality.
***, **, * denotes the null hypothesis rejection at the 1%, 5% and 10%. Source: Authors' Estimations.