This
study
explores
the
dynamic
connectedness
and
multivariate
connectivity
among
Bitcoin,
Innovative
Technology
Communication,
FinTech
indices.
We
adopt
both
TVP-VAR
model
wavelet-based
long-memory
approach.
Bitcoin
contributes/receives
a
low
level
of
shocks
from
these
sectors.
is
not
connected
much
with
two
sectors
their
variations
are
mostly
driven
by
idiosyncratic
factors.
Then,
obtaining
fractal
clustering
provides
new
evidence
similarity
in
sectors,
while
clustered
away
When
we
use
Ethereum,
place
results
identical.
Research in International Business and Finance,
Journal Year:
2024,
Volume and Issue:
70, P. 102405 - 102405
Published: May 27, 2024
Decentralized
finance
(DeFi)
has
become
of
significant
interest
for
investors
in
both
the
financial
and
digital
sectors.
We
use
a
time-varying
parameter
vector
autoregression
(TVP-VAR)
approach
to
estimate
static
dynamic
connections
between
within
DeFi,
G7
banking,
equity
markets.
focus
on
critical
events
such
as
COVID-19
pandemic,
cryptocurrency
bubble,
Russia-Ukraine
conflict.
The
results
highlight
interconnectedness
spillovers
markets,
especially
during
pandemic.
Notably,
there
were
spillover
effects
from
banking
markets
Japan
DeFi
assets.
findings
demonstrate
robust
connection
platforms,
stock
throughout
these
tumultuous
periods.
Policymakers,
investors,
entrepreneurs
are
recommended
keep
close
eye
changes
traditional
adjust
risk
