Economic Annals-XXI, volume 187, issue 1-2, pages 177-188

Dynamics of Bitcoin trading on the Binance cryptocurrency exchange

Patashkova Y., Niyazbekova S., Kerimkhulle S., Serikova M., Troyanskaya M.
Publication typeJournal Article
Publication date2021-02-28
scimago Q3
SJR0.181
CiteScore1.5
Impact factor
ISSN17286220, 17286239
Sociology and Political Science
General Economics, Econometrics and Finance
Abstract

Currently, there are a great number of platform-projects and frameworks based on blockchain technology. Consequently, it is necessary to define the most relevant blockchain platforms and analyze them taking into consideration a variety of features. Also, there is a need to investigate the logistics growth and the price of Bitcoin on the Binance cryptocurrency exchange. The authors have examined modern technologies used by manufacturing companies in the field of fintech in the context of the 2019-2024 period. The results show that sensors and automatic identification take the leading position both at present and in 2024. Aartificial intelligence and blockchain are also in demand by manufacturers today, however in the nearest future their ranking positions will increase sixfold from 10% to 60%. In the current paper the authors review the largest companies that effectively use blockchain technology in their businesses. The conducted survey shows that 18% of companies use blockchain technology based on Bitcoin. The authors have analysed a number of Bitcoin transactions for the period from January 2017 to February 2021 and concluded that the COVID-19 pandemic has had a favourable effect on the indicator data. A maximum number of transactions equal to 10.15 million was carried out in July 2020. Using the method of the Ordinary Least Squares (OLS) and statistical estimation methods the authors have revealed an underestimation of the equilibrium state of the empirical distribution of price data and the volume of daily trading of Bitcoin on the Binance cryptocurrency exchange through the channel of the right-hand confidence interval. The blockchain technology based on Bitcoin has positively reacted to the macroeconomic factors such as the COVID-19 pandemics and further growth in Bitcoin transactions is expected. With the help of economic modelling, the authors have defined the predictable volume and the price of Bitcoin on the Binance cryptocurrency exchange.

Found 

Top-30

Journals

1
2
3
4
1
2
3
4

Publishers

1
2
3
4
1
2
3
4
  • We do not take into account publications without a DOI.
  • Statistics recalculated only for publications connected to researchers, organizations and labs registered on the platform.
  • Statistics recalculated weekly.

Are you a researcher?

Create a profile to get free access to personal recommendations for colleagues and new articles.
Share
Cite this
GOST | RIS | BibTex | MLA
Found error?