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Fig. 1 | Financial Innovation

Fig. 1

From: Liquidity connectedness in cryptocurrency market

Fig. 1

Spillover diagram using DY approach. Note: This network graph illustrates the degree of total connectedness in a system that consists of the six cryptocurrencies over the full sample period. Total connectedness is measured using the Diebold-Yilmaz framework. The size of the node shows the magnitude of contribution of each variable to system connectedness, while the color indicates the origin of connectedness. In particular, the red color implies contribution from the variable under consideration to the other variables of the system and the green color means contribution from the other variables to the variable under analysis. The color and shape of the arrows refer to the strength of connectedness. The red colour and full line arrows represent strong spillovers while green and blue colour arrows show medium and weak liquidity spillovers, respectively

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