{"id":"https://openalex.org/W4384009675","doi":"https://doi.org/10.1109/icbc56567.2023.10174905","title":"Examining Liquidity of Exchanges and Assets and the Impact of External Events in Centralized Crypto Markets: A 2022 Study","display_name":"Examining Liquidity of Exchanges and Assets and the Impact of External Events in Centralized Crypto Markets: A 2022 Study","publication_year":2023,"publication_date":"2023-05-01","ids":{"openalex":"https://openalex.org/W4384009675","doi":"https://doi.org/10.1109/icbc56567.2023.10174905"},"language":"en","primary_location":{"id":"doi:10.1109/icbc56567.2023.10174905","is_oa":false,"landing_page_url":"https://doi.org/10.1109/icbc56567.2023.10174905","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"2023 IEEE International Conference on Blockchain and Cryptocurrency (ICBC)","raw_type":"proceedings-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5039568440","display_name":"Adrian Jobst","orcid":"https://orcid.org/0009-0007-4894-451X"},"institutions":[{"id":"https://openalex.org/I143288331","display_name":"Hasso Plattner Institute","ror":"https://ror.org/058rn5r42","country_code":"DE","type":"facility","lineage":["https://openalex.org/I143288331","https://openalex.org/I176453806"]},{"id":"https://openalex.org/I176453806","display_name":"University of Potsdam","ror":"https://ror.org/03bnmw459","country_code":"DE","type":"education","lineage":["https://openalex.org/I176453806"]}],"countries":["DE"],"is_corresponding":true,"raw_author_name":"Adrian Jobst","raw_affiliation_strings":["Hasso Plattner Institute, University of Potsdam,Digital Engineering Faculty,Germany","Digital Engineering Faculty, Hasso Plattner Institute, University of Potsdam, Germany"],"affiliations":[{"raw_affiliation_string":"Hasso Plattner Institute, University of Potsdam,Digital Engineering Faculty,Germany","institution_ids":["https://openalex.org/I143288331","https://openalex.org/I176453806"]},{"raw_affiliation_string":"Digital Engineering Faculty, Hasso Plattner Institute, University of Potsdam, Germany","institution_ids":["https://openalex.org/I143288331","https://openalex.org/I176453806"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5056962479","display_name":"Daniel Atzberger","orcid":null},"institutions":[{"id":"https://openalex.org/I143288331","display_name":"Hasso Plattner Institute","ror":"https://ror.org/058rn5r42","country_code":"DE","type":"facility","lineage":["https://openalex.org/I143288331","https://openalex.org/I176453806"]},{"id":"https://openalex.org/I176453806","display_name":"University of Potsdam","ror":"https://ror.org/03bnmw459","country_code":"DE","type":"education","lineage":["https://openalex.org/I176453806"]}],"countries":["DE"],"is_corresponding":false,"raw_author_name":"Daniel Atzberger","raw_affiliation_strings":["Hasso Plattner Institute, University of Potsdam,Digital Engineering Faculty,Germany","Digital Engineering Faculty, Hasso Plattner Institute, University of Potsdam, Germany"],"affiliations":[{"raw_affiliation_string":"Hasso Plattner Institute, University of Potsdam,Digital Engineering Faculty,Germany","institution_ids":["https://openalex.org/I143288331","https://openalex.org/I176453806"]},{"raw_affiliation_string":"Digital Engineering Faculty, Hasso Plattner Institute, University of Potsdam, Germany","institution_ids":["https://openalex.org/I143288331","https://openalex.org/I176453806"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5092451060","display_name":"Robert Henker","orcid":null},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Robert Henker","raw_affiliation_strings":["XU Exponential University,Potsdam,Germany","XU Exponential University, Potsdam, Germany"],"affiliations":[{"raw_affiliation_string":"XU Exponential University,Potsdam,Germany","institution_ids":[]},{"raw_affiliation_string":"XU Exponential University, Potsdam, Germany","institution_ids":[]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5030325088","display_name":"Jan Ole Vollmer","orcid":"https://orcid.org/0000-0002-3403-065X"},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Jan Ole Vollmer","raw_affiliation_strings":[],"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5052710697","display_name":"Willy Scheibel","orcid":"https://orcid.org/0000-0002-7885-9857"},"institutions":[{"id":"https://openalex.org/I143288331","display_name":"Hasso Plattner Institute","ror":"https://ror.org/058rn5r42","country_code":"DE","type":"facility","lineage":["https://openalex.org/I143288331","https://openalex.org/I176453806"]},{"id":"https://openalex.org/I176453806","display_name":"University of Potsdam","ror":"https://ror.org/03bnmw459","country_code":"DE","type":"education","lineage":["https://openalex.org/I176453806"]}],"countries":["DE"],"is_corresponding":false,"raw_author_name":"Willy Scheibel","raw_affiliation_strings":["Hasso Plattner Institute, University of Potsdam,Digital Engineering Faculty,Germany","Digital Engineering Faculty, Hasso Plattner Institute, University of Potsdam, Germany"],"affiliations":[{"raw_affiliation_string":"Hasso Plattner Institute, University of Potsdam,Digital Engineering Faculty,Germany","institution_ids":["https://openalex.org/I143288331","https://openalex.org/I176453806"]},{"raw_affiliation_string":"Digital Engineering Faculty, Hasso Plattner Institute, University of Potsdam, Germany","institution_ids":["https://openalex.org/I143288331","https://openalex.org/I176453806"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5081246092","display_name":"J\u00fcrgen D\u00f6llner","orcid":null},"institutions":[{"id":"https://openalex.org/I143288331","display_name":"Hasso Plattner Institute","ror":"https://ror.org/058rn5r42","country_code":"DE","type":"facility","lineage":["https://openalex.org/I143288331","https://openalex.org/I176453806"]},{"id":"https://openalex.org/I176453806","display_name":"University of Potsdam","ror":"https://ror.org/03bnmw459","country_code":"DE","type":"education","lineage":["https://openalex.org/I176453806"]}],"countries":["DE"],"is_corresponding":false,"raw_author_name":"J\u00fcrgen D\u00f6llner","raw_affiliation_strings":["Hasso Plattner Institute, University of Potsdam,Digital Engineering Faculty,Germany","Digital Engineering Faculty, Hasso Plattner Institute, University of Potsdam, Germany"],"affiliations":[{"raw_affiliation_string":"Hasso Plattner Institute, University of Potsdam,Digital Engineering Faculty,Germany","institution_ids":["https://openalex.org/I143288331","https://openalex.org/I176453806"]},{"raw_affiliation_string":"Digital Engineering Faculty, Hasso Plattner Institute, University of Potsdam, Germany","institution_ids":["https://openalex.org/I143288331","https://openalex.org/I176453806"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":6,"corresponding_author_ids":["https://openalex.org/A5039568440"],"corresponding_institution_ids":["https://openalex.org/I143288331","https://openalex.org/I176453806"],"apc_list":null,"apc_paid":null,"fwci":3.2122,"has_fulltext":false,"cited_by_count":7,"citation_normalized_percentile":{"value":0.9289747,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":96,"max":98},"biblio":{"volume":null,"issue":null,"first_page":"1","last_page":"6"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10270","display_name":"Blockchain Technology Applications and Security","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},"topics":[{"id":"https://openalex.org/T10270","display_name":"Blockchain Technology Applications and Security","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9972000122070312,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11270","display_name":"Complex Systems and Time Series Analysis","score":0.993399977684021,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/market-liquidity","display_name":"Market liquidity","score":0.9005410671234131},{"id":"https://openalex.org/keywords/cryptocurrency","display_name":"Cryptocurrency","score":0.7513753175735474},{"id":"https://openalex.org/keywords/liquidity-crisis","display_name":"Liquidity crisis","score":0.5615853667259216},{"id":"https://openalex.org/keywords/order","display_name":"Order (exchange)","score":0.5589594841003418},{"id":"https://openalex.org/keywords/market-capitalization","display_name":"Market capitalization","score":0.5585805177688599},{"id":"https://openalex.org/keywords/monetary-economics","display_name":"Monetary economics","score":0.5514838695526123},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.530926525592804},{"id":"https://openalex.org/keywords/liquidity-risk","display_name":"Liquidity risk","score":0.5291847586631775},{"id":"https://openalex.org/keywords/market-impact","display_name":"Market impact","score":0.5007421970367432},{"id":"https://openalex.org/keywords/currency","display_name":"Currency","score":0.474046915769577},{"id":"https://openalex.org/keywords/accounting-liquidity","display_name":"Accounting liquidity","score":0.4571504592895508},{"id":"https://openalex.org/keywords/market-maker","display_name":"Market maker","score":0.44003215432167053},{"id":"https://openalex.org/keywords/flash-trading","display_name":"Flash trading","score":0.4310773015022278},{"id":"https://openalex.org/keywords/dark-liquidity","display_name":"Dark liquidity","score":0.4199506342411041},{"id":"https://openalex.org/keywords/financial-economics","display_name":"Financial economics","score":0.36549603939056396},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.3333718180656433},{"id":"https://openalex.org/keywords/market-microstructure","display_name":"Market microstructure","score":0.30943724513053894},{"id":"https://openalex.org/keywords/high-frequency-trading","display_name":"High-frequency trading","score":0.25226423144340515},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.21744316816329956},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.14290094375610352},{"id":"https://openalex.org/keywords/computer-security","display_name":"Computer security","score":0.10603928565979004},{"id":"https://openalex.org/keywords/stock-market","display_name":"Stock market","score":0.08318004012107849},{"id":"https://openalex.org/keywords/context","display_name":"Context (archaeology)","score":0.06769809126853943}],"concepts":[{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.9005410671234131},{"id":"https://openalex.org/C180706569","wikidata":"https://www.wikidata.org/wiki/Q13479982","display_name":"Cryptocurrency","level":2,"score":0.7513753175735474},{"id":"https://openalex.org/C176923680","wikidata":"https://www.wikidata.org/wiki/Q3002739","display_name":"Liquidity crisis","level":3,"score":0.5615853667259216},{"id":"https://openalex.org/C182306322","wikidata":"https://www.wikidata.org/wiki/Q1779371","display_name":"Order (exchange)","level":2,"score":0.5589594841003418},{"id":"https://openalex.org/C193445137","wikidata":"https://www.wikidata.org/wiki/Q471719","display_name":"Market capitalization","level":4,"score":0.5585805177688599},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5514838695526123},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.530926525592804},{"id":"https://openalex.org/C189259953","wikidata":"https://www.wikidata.org/wiki/Q1042259","display_name":"Liquidity risk","level":3,"score":0.5291847586631775},{"id":"https://openalex.org/C127288500","wikidata":"https://www.wikidata.org/wiki/Q1241055","display_name":"Market impact","level":4,"score":0.5007421970367432},{"id":"https://openalex.org/C141121606","wikidata":"https://www.wikidata.org/wiki/Q8142","display_name":"Currency","level":2,"score":0.474046915769577},{"id":"https://openalex.org/C204468989","wikidata":"https://www.wikidata.org/wiki/Q1827667","display_name":"Accounting liquidity","level":4,"score":0.4571504592895508},{"id":"https://openalex.org/C18991353","wikidata":"https://www.wikidata.org/wiki/Q1137319","display_name":"Market maker","level":4,"score":0.44003215432167053},{"id":"https://openalex.org/C63240072","wikidata":"https://www.wikidata.org/wiki/Q5457574","display_name":"Flash trading","level":5,"score":0.4310773015022278},{"id":"https://openalex.org/C11906137","wikidata":"https://www.wikidata.org/wiki/Q1166205","display_name":"Dark liquidity","level":4,"score":0.4199506342411041},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.36549603939056396},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3333718180656433},{"id":"https://openalex.org/C51926234","wikidata":"https://www.wikidata.org/wiki/Q3312426","display_name":"Market microstructure","level":3,"score":0.30943724513053894},{"id":"https://openalex.org/C24683644","wikidata":"https://www.wikidata.org/wiki/Q138372","display_name":"High-frequency trading","level":3,"score":0.25226423144340515},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.21744316816329956},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.14290094375610352},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.10603928565979004},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.08318004012107849},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.06769809126853943},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1109/icbc56567.2023.10174905","is_oa":false,"landing_page_url":"https://doi.org/10.1109/icbc56567.2023.10174905","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"2023 IEEE International Conference on Blockchain and Cryptocurrency (ICBC)","raw_type":"proceedings-article"}],"best_oa_location":null,"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/17","score":0.41999998688697815,"display_name":"Partnerships for the goals"}],"awards":[],"funders":[{"id":"https://openalex.org/F4320332915","display_name":"Harvey L. Neiman Health Policy Institute","ror":"https://ror.org/01zsmba62"}],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":10,"referenced_works":["https://openalex.org/W1985445641","https://openalex.org/W2027349009","https://openalex.org/W2799345028","https://openalex.org/W2883043781","https://openalex.org/W3035722506","https://openalex.org/W3123606430","https://openalex.org/W3185681042","https://openalex.org/W4214762486","https://openalex.org/W4294862448","https://openalex.org/W6738985550"],"related_works":["https://openalex.org/W4377292046","https://openalex.org/W4299386418","https://openalex.org/W3121546316","https://openalex.org/W4389328673","https://openalex.org/W2148400702","https://openalex.org/W2011203787","https://openalex.org/W1597411083","https://openalex.org/W155676324","https://openalex.org/W2906315182","https://openalex.org/W2992220753"],"abstract_inverted_index":{"Most":[0],"cryptocurrencies":[1],"are":[2],"bought":[3],"and":[4,12,121,159,175],"sold":[5],"on":[6,46,74,171],"centralized":[7],"exchanges":[8,92,142],"that":[9,52,115,151],"manage":[10],"supply":[11],"demand":[13],"via":[14],"an":[15],"order":[16,48,84],"book.":[17],"Besides":[18],"trading":[19,124],"fees,":[20],"the":[21,28,37,41,47,69,94,110,122,132,155,160,172,176,180],"high":[22],"liquidity":[23,43,79,140,181],"of":[24,71,139],"a":[25,59,64,117,136,183],"market":[26,119,178],"is":[27,103],"most":[29],"relevant":[30],"reason":[31],"for":[32,81],"choosing":[33],"one":[34],"exchange":[35],"over":[36],"other.":[38],"However,":[39,169],"as":[40,116],"different":[42,83,107],"measures":[44,80],"rely":[45],"book,":[49],"external":[50,72,152],"events":[51,73,156],"cause":[53],"people":[54],"to":[55,188],"sell":[56],"or":[57,185],"buy":[58],"cryptocurrency":[60],"can":[61,113,143],"significantly":[62],"impact":[63],"market's":[65],"liquidity.":[66,130,168],"To":[67],"investigate":[68],"effect":[70],"liquidity,":[75],"we":[76,112],"measure":[77],"various":[78],"nine":[82],"books":[85],"comprising":[86],"three":[87,91],"currency":[88],"pairs":[89],"across":[90],"covering":[93],"entire":[95],"year":[96],"2022.":[97],"The":[98],"resulting":[99],"multivariate":[100],"time":[101,187],"series":[102],"then":[104],"analyzed":[105],"using":[106],"correlations.":[108],"From":[109],"results,":[111],"infer":[114],"cryptocurrency's":[118,177],"capitalization":[120],"exchange's":[123,173],"volume":[125],"increases,":[126],"so":[127],"does":[128],"its":[129],"At":[131],"same":[133],"time,":[134],"only":[135],"moderate":[137],"correlation":[138],"between":[141],"be":[144],"observed.":[145],"Furthermore,":[146],"our":[147],"statistical":[148],"observations":[149],"show":[150],"events,":[153],"particularly":[154],"around":[157],"FTX":[158],"Terra":[161],"Luna":[162],"crash,":[163],"caused":[164],"significant":[165],"changes":[166],"in":[167],"depending":[170],"size":[174],"cap,":[179],"took":[182],"shorter":[184],"longer":[186],"recover.":[189]},"counts_by_year":[{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":4}],"updated_date":"2025-11-06T03:46:38.306776","created_date":"2025-10-10T00:00:00"}
