The evolution of financial transactions has driven the integration of cryptocurrencies, leading to the emergence of numerous exchange platforms, each one with its own classification criteria. This diversity hinders objective comparison between digital assets. To address this issue, this study proposes an integrated approach based on Social Network Analysis (SNA) to consolidate various cryptocurrency rankings into a single, more objective ranking. The methodology was developed in six stages: selection of reliable rankings, data extraction via web scraping, information standardization, application of SNA to generate a new ranking, development of a web application, and usability evaluation. Additionally, centrality, closeness, and density metrics were applied to construct the network and rank cryptocurrencies based on their presence across different platforms. The results validate the proposed ranking due to the high correlation (0.98) with the rankings of well-known platforms, such as Coinbase, Coingecko, and Cryptocom. Moreover, the developed application allows users to work with different datasets and time periods, making it a reusable tool for future analyses. Thus, this proposal successfully unifies dispersed classification criteria and offers a flexible, reusable, and effective tool for analyzing the cryptocurrency market.

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Cryptocurrency Ranking Using Social Network Analysis

  • Anthony Pachay,
  • Geovanny Brito-Casanova,
  • Ariosto Vicuña,
  • Orlando Erazo,
  • Alicia Andrade

摘要

The evolution of financial transactions has driven the integration of cryptocurrencies, leading to the emergence of numerous exchange platforms, each one with its own classification criteria. This diversity hinders objective comparison between digital assets. To address this issue, this study proposes an integrated approach based on Social Network Analysis (SNA) to consolidate various cryptocurrency rankings into a single, more objective ranking. The methodology was developed in six stages: selection of reliable rankings, data extraction via web scraping, information standardization, application of SNA to generate a new ranking, development of a web application, and usability evaluation. Additionally, centrality, closeness, and density metrics were applied to construct the network and rank cryptocurrencies based on their presence across different platforms. The results validate the proposed ranking due to the high correlation (0.98) with the rankings of well-known platforms, such as Coinbase, Coingecko, and Cryptocom. Moreover, the developed application allows users to work with different datasets and time periods, making it a reusable tool for future analyses. Thus, this proposal successfully unifies dispersed classification criteria and offers a flexible, reusable, and effective tool for analyzing the cryptocurrency market.