Table 5.

Results of Causality in Mean.

Quantile	Overall spillover	Net spillover for BTC	Net spillover for ETH	Net spillover for LTC	Net spillover for XRP	Net spillover for XLM	Net spillover for BNB	Net spillover for ADA	Net spillover for LINK
0.10	1.605	1.268	1.454	1.280	1.435	1.227	1.170	1.200	0.919
0.15	1.684	1.239	1.562	1.576	1.593	1.360	1.238	1.347	0.890
0.20	1.756*	1.453	1.614	1.752*	1.698*	1.394	1.133	1.343	0.835
0.25	2.117**	1.801*	1.841*	1.718*	1.804*	1.189	1.183	1.605	0.850
0.30	1.979**	1.821*	1.861*	1.888*	2.036**	1.226	1.206	1.926	0.920
0.35	1.939*	1.677*	1.700*	1.855*	2.141**	1.267	1.402	1.812	0.854
0.40	2.117**	1.843*	1.887*	1.956*	2.182**	1.550	1.576	1.991	0.848
0.45	2.327**	1.877*	2.194**	2.137**	2.120**	1.302	1.745	1.933	0.995
0.50	1.693*	1.979**	1.745*	1.705*	2.234**	1.200	1.612	1.556	0.890
0.55	2.029**	2.080**	1.935*	1.701*	2.01**	1.205	1.626	1.548	1.038
0.60	1.848*	2.040**	1.745*	1.703*	1.994*	1.077	1.343	1.721**	0.898
0.65	1.557	2.081**	1.524	1.688*	1.731*	1.025	1.182	1.685*	0.836
0.70	1.749	1.979**	1.373	1.723*	2.089**	1.356	1.557	1.403	0.942
0.75	1.559	1.985**	1.293	1.822*	2.090**	1.104	1.392	1.313	0.802
0.80	1.156	1.626	1.176	1.485	1.523	1.294	1.118	0.926	0.747
0.85	1.298	1.253	1.253	1.396	1.263	0.983	1.028	0.853	0.627
0.90	1.248	1.042	1.103	1.011	1.085	0.809	0.904	0.734	0.648

Note: Entries correspond to the quantile causality test statistic for the null hypothesis that considered COVID-19 does not Granger cause spillover connectedness among cryptocurrencies.

**, * indicates the null hypothesis rejection at 5, and 10 percent levels respectively.

Source: Authors' Estimations.