HIGHLIGHTS
- What: The authors aim to investigate the relationship and concurrent movement between cryptocurrency prices and NFT objects for a thorough understanding of these digital assets. This study aims to fill this gap by providing a comprehensive analysis of the co-movement of cryptocurrency and NFT prices using a Deep VAR model that the authors propose in this manuscript. The authors investigate the price evolution of ETH along with five NFT collections, as depicted in Figure 1. The analysis reveals a consistent positive relationship between fluctuations in ETH prices and the corresponding changes in these NFT collections.
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