Hot issue markets for initial coin offerings

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Tezin Türü: Yüksek Lisans

Tezin Yürütüldüğü Kurum: Orta Doğu Teknik Üniversitesi, Sosyal Bilimler Enstitüsü, Türkiye

Tezin Onay Tarihi: 2019

Tezin Dili: İngilizce

Öğrenci: ÖNDER ARAL ÖZKAN

Danışman: Seza Danışoğlu

Özet:

This study analyzes the market for initial coin offerings (ICOs) of cryptocurrencies. We focus on the hot issue market phenomenon in this market by performing correlation, run and regression analyses and examine the relationship between past and future coin offerings. We use www.coinmarketcap.com and www.cci30.com as our main data sources. For a sample of 759 cryptocurrency offerings between 2015 and 2019, we show that there are 23 hot and 23 cold months. The results indicate that the number of ICOs in the past positively affect the decision to offer new coins to the market.