Roman Matkovskyy
Roman Matkovskyy

Behavioural Foundations of Individual Cryptocurrency Adoption (Evidence from the Nordic countries and France)

Behavioural Foundations of Individual Cryptocurrency Adoption (Evidence from the Nordic countries and France)

26/08/2025

Blockchain_Cryptocurrencies;Decentralized finance;FinTech

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14:30

This paper analyzes trading patterns and investor behavior in the market for tokenizedfinancial assets. Even though investors can trade tokenized assets around the clock, tradingactivity is substantially higher when the primary listing exchange is open, in particular duringthe regular trading session. Likewise, price differences between the tokenized and underlyingasset are wider during the extended trading hours than during the regular trading session.The majority of trades result from fractional order sizes, but orders still cluster at relativelyround sizes, values, and prices. Additionally, a disproportionate number of trades, especiallybuy trades, use the minimum permissible order size, suggesting the presence of retail tradersinterested in owning an asset for purposes other than financial gain.

This paper analyzes trading patterns and investor behavior in the market for tokenizedfinancial assets. Even though investors can trade tokenized assets around the clock, tradingactivity is substantially higher when the primary listing exchange is open, in particular duringthe regular trading session. Likewise, price differences between the tokenized and underlyingasset are wider during the extended trading hours than during the regular trading session.The majority of trades result from fractional order sizes, but orders still cluster at relativelyround sizes, values, and prices. Additionally, a disproportionate number of trades, especiallybuy trades, use the minimum permissible order size, suggesting the presence of retail tradersinterested in owning an asset for purposes other than financial gain.

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