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City Researchers Reveal Link Between Coding of Cryptocurrencies and Their Market Behavior

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Researchers at the U.K.'s City University of London have found a connection between the coding of cryptocurrencies and their market behavior.

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A connection between the coding of cryptocurrencies and their market behavior has been identified by researchers at the U.K.'s City University of London.

The researchers studied 297 cryptocurrencies whose code is stored in GitHub, and whose average daily trading volume during their lifetime was higher than $100,000.

They found that 4% of developers contribute to the code of two or more cryptocurrencies, raising questions about the transparency of the coding process.

City University's Andrea Baronchelli said, "Cryptocurrencies are open source digital objects traded as financial assets that allow, at least theoretically, everyone to directly shape both an asset structure and its market behavior. Our study, identifying a simple event in the development space that anticipates a corresponding behavior in the market, establishes a first direct link between the realms of coding and trading."

From City University of London (U.K.)
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