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Financial Innovation

Table 1 Descriptive statistics and preliminary tests of the returns of Bitcoin and Ethereum

From: On the efficiency and its drivers in the cryptocurrency market: the case of Bitcoin and Ethereum

 

Mean

Std. Dev

Skewness

Kurtosis

J–B prob

AFD

PP

BTC

0.1551

4.0365

− 0.7890

14.2828

0.0000

− 51.2593***

− 51.2000***

ETH

0.2142

5.4116

− 0.5427

11.9024

0.0000

− 51.0701***

− 51.1700***

  1. This table reports the descriptive statistics and preliminary tests of BTC and ETH daily returns. The sample period is 08/07/2016–02/15/2023. J–B (Jarque–Bera) statistics p-values are related to the normality test. ADF and PP are the statistics of Dickey–Fuller and Phillips–Perron related to the unit root tests
  2. ***Indicates statistical significance at the 1% level
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