The rise and fall of cryptocurrency coins and tokens

Since Bitcoin’s introduction in 2009, interest cryptocurrencies has soared. One manifestation of this been the explosion newly created coins and tokens. In paper, we analyze dynamics burgeoning industry. We consider both cryptocurrency The paper examines coin token creation, competition destruction order to conduct analysis, develop a methodology identify peaks prices trade volume, as well when tokens are abandoned subsequently “resurrected”. also study trading activity. Our data spans more than 4 years: there 1082 725 data. While some similarities between regarding dynamics, striking differences well. Overall, find that 44% publicly-traded abandoned, at least temporarily. 71% later resurrected, leaving 18% fail permanently. Tokens experience abandonment less frequently, with only 7% 5% permanent end Using linear regressions, market variables such bitcoin price not associated rate introducing new coins, though they positively issuing for tokens, resurrection. then examine effect bursting Bitcoin bubble December 2017 had on Unlike 2013 bubble, alternative continue flourish after bubble.