Wang, Jying-Nan; Lee, Yen-Hsien; Liu, Hung-Chun; Hsu, … - 2022
We use transaction data on CryptoPunks to anatomize the factors affecting the returns of non-fungible tokens (NFTs). Our results show that trading volume in the short period before a trader buys (sells) CryptoPunk relates negatively (positively) to the returns on NFTs, suggesting that when...