Projecting XRP price burst by correlation tensor spectra of transaction networks
Abstract Cryptoassets are becoming essential in the digital economy era. XRP is one of the large market cap cryptoassets. Here, we develop a novel method of correlation tensor spectra for the dynamical XRP networks, which can provide an early indication for XRP price. A weighed directed weekly trans...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Nature Portfolio
2023-03-01
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| Series: | Scientific Reports |
| Online Access: | https://doi.org/10.1038/s41598-023-31881-5 |
| _version_ | 1797859954029232128 |
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| author | Abhijit Chakraborty Tetsuo Hatsuda Yuichi Ikeda |
| author_facet | Abhijit Chakraborty Tetsuo Hatsuda Yuichi Ikeda |
| author_sort | Abhijit Chakraborty |
| collection | DOAJ |
| description | Abstract Cryptoassets are becoming essential in the digital economy era. XRP is one of the large market cap cryptoassets. Here, we develop a novel method of correlation tensor spectra for the dynamical XRP networks, which can provide an early indication for XRP price. A weighed directed weekly transaction network among XRP wallets is constructed by aggregating all transactions for a week. A vector for each node is then obtained by embedding the weekly network in continuous vector space. From a set of weekly snapshots of node vectors, we construct a correlation tensor. A double singular value decomposition of the correlation tensors gives its singular values. The significance of the singular values is shown by comparing with its randomize counterpart. The evolution of singular values shows a distinctive behavior. The largest singular value shows a significant negative correlation with XRP/USD price. We observe the minimum of the largest singular values at the XRP/USD price peak during the first week of January 2018. The minimum of the largest singular value during January 2018 is explained by decomposing the correlation tensor in the signal and noise components and also by evolution of community structure. |
| first_indexed | 2024-04-09T21:38:58Z |
| format | Article |
| id | doaj.art-644421bfd1954da2b24d0c8c1d74d10b |
| institution | Directory Open Access Journal |
| issn | 2045-2322 |
| language | English |
| last_indexed | 2024-04-09T21:38:58Z |
| publishDate | 2023-03-01 |
| publisher | Nature Portfolio |
| record_format | Article |
| series | Scientific Reports |
| spelling | doaj.art-644421bfd1954da2b24d0c8c1d74d10b2023-03-26T11:09:27ZengNature PortfolioScientific Reports2045-23222023-03-0113111010.1038/s41598-023-31881-5Projecting XRP price burst by correlation tensor spectra of transaction networksAbhijit Chakraborty0Tetsuo Hatsuda1Yuichi Ikeda2Graduate School of Advanced Integrated Studies in Human Survivability, Kyoto UniversityRIKEN Interdisciplinary Theoretical and Mathematical Sciences ProgramGraduate School of Advanced Integrated Studies in Human Survivability, Kyoto UniversityAbstract Cryptoassets are becoming essential in the digital economy era. XRP is one of the large market cap cryptoassets. Here, we develop a novel method of correlation tensor spectra for the dynamical XRP networks, which can provide an early indication for XRP price. A weighed directed weekly transaction network among XRP wallets is constructed by aggregating all transactions for a week. A vector for each node is then obtained by embedding the weekly network in continuous vector space. From a set of weekly snapshots of node vectors, we construct a correlation tensor. A double singular value decomposition of the correlation tensors gives its singular values. The significance of the singular values is shown by comparing with its randomize counterpart. The evolution of singular values shows a distinctive behavior. The largest singular value shows a significant negative correlation with XRP/USD price. We observe the minimum of the largest singular values at the XRP/USD price peak during the first week of January 2018. The minimum of the largest singular value during January 2018 is explained by decomposing the correlation tensor in the signal and noise components and also by evolution of community structure.https://doi.org/10.1038/s41598-023-31881-5 |
| spellingShingle | Abhijit Chakraborty Tetsuo Hatsuda Yuichi Ikeda Projecting XRP price burst by correlation tensor spectra of transaction networks Scientific Reports |
| title | Projecting XRP price burst by correlation tensor spectra of transaction networks |
| title_full | Projecting XRP price burst by correlation tensor spectra of transaction networks |
| title_fullStr | Projecting XRP price burst by correlation tensor spectra of transaction networks |
| title_full_unstemmed | Projecting XRP price burst by correlation tensor spectra of transaction networks |
| title_short | Projecting XRP price burst by correlation tensor spectra of transaction networks |
| title_sort | projecting xrp price burst by correlation tensor spectra of transaction networks |
| url | https://doi.org/10.1038/s41598-023-31881-5 |
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