A Big Data Analysis of the Ethereum Network: from Blockchain to Google Trends
Dorsa Mohammadi Arezooji
TL;DR
This paper analyzes Ethereum blockchain transactions and smart contracts, correlates them with online search trends for cryptocurrencies, and identifies market manipulation patterns and predictive indicators for Ether prices.
Contribution
It introduces a comprehensive big data analysis linking blockchain activity with public interest and market dynamics, revealing manipulation and predictive signals.
Findings
Market manipulation by big players after price drops
Search trends correlate with crypto prices
Certain pairs predict Ether prices accurately
Abstract
First, a big data analysis of the transactions and smart contracts made on the Ethereum blockchain is performed, revealing interesting trends in motion. Next, these trends are compared with the public's interest in Ether and Bitcoin, measured by the volume of online searches. An analysis of the crypto prices and search trends suggests the existence of big players (and not the regular users), manipulating the market after a drop in prices. Lastly, a cross-correlation study of crypto prices and search trends reveals the pairs providing more accurate and timely predictions of Ether prices.
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Taxonomy
TopicsBlockchain Technology Applications and Security · Complex Systems and Time Series Analysis · Cloud Computing and Resource Management