Author Type

Graduate Student

Date of Award

2024

Document Type

Dissertation

Publication Status

Version of Record

Submission Date

October 2026

Thesis/Dissertation Advisor [Chair]

Luther, William

Abstract

I assessed the impact of the Merge in Ethereum by analyzing the change in its market capitalization following the event. This study can provide insights into market preferences for proof-of-work versus proof-of-stake protocols. A difference-in-difference analysis was conducted, using Ethereum Classic as the control group and Ethereum as the treatment group to estimate the local average treatment effect following the Merge as the intervention. As a robustness check, the analysis was repeated using the Top 100 cryptocurrencies as the control group. I find no evidence that the Merge improved the market capitalization of Ethereum relative to Ethereum Classic or the Top 100 cryptocurrencies.

Extent

57 P.

Comments

Includes bibliography.|Dissertation (PhD)--Florida Atlantic University, 2024.|FAU Electronic Theses and Dissertations Collection|Includes bibliography.

Identifier

FA00014447

Format

pdf

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