Environmental Attention and Cryptocurrency Bubbles: Insights from the Cryptocurrency Environmental Attention Index

Md Shahedur R. Chowdhury; Andrew Urquhart

doi:10.1080/1351847X.2026.2613907

Environmental Attention and Cryptocurrency Bubbles: Insights from the Cryptocurrency Environmental Attention Index

Md Shahedur R. Chowdhury
, Andrew Urquhart^*

^*Corresponding author for this work

Finance

Research output: Contribution to journal › Article › peer-review

3 Downloads (Pure)

Abstract

We examine the association between cryptocurrency environmental attention and cryptocurrency bubbles. Our results indicate that environmental attention is positively associated with the probability of a cryptocurrency bubble and ranks as the second most important explanatory factor. The positive association is more pronounced for smaller, less-mature, and proof-of-work (PoW) cryptocurrencies, indicating that cryptocurrency characteristics are important determining factors of bubble formation.

Original language	English
Pages (from-to)	204-226
Number of pages	23
Journal	European Journal of Finance
Volume	32
Issue number	2
DOIs	https://doi.org/10.1080/1351847X.2026.2613907
Publication status	Published - 19 Feb 2026

Keywords

Cryptocurrency
bubbles
cryptocurrency environmental attention
ICEA
sustainability

Access to Document

10.1080/1351847X.2026.2613907Licence: Creative Commons: Attribution (CC BY)

ChowdhuryM2026Environmental Final published version, 2.36 MBLicence: Creative Commons: Attribution (CC BY)

Cite this

@article{a7e832e5430245379bd4e79e4de77180,

title = "Environmental Attention and Cryptocurrency Bubbles: Insights from the Cryptocurrency Environmental Attention Index",

abstract = "We examine the association between cryptocurrency environmental attention and cryptocurrency bubbles. Our results indicate that environmental attention is positively associated with the probability of a cryptocurrency bubble and ranks as the second most important explanatory factor. The positive association is more pronounced for smaller, less-mature, and proof-of-work (PoW) cryptocurrencies, indicating that cryptocurrency characteristics are important determining factors of bubble formation.",

keywords = "Cryptocurrency, bubbles, cryptocurrency environmental attention, ICEA, sustainability",

author = "Chowdhury, \{Md Shahedur R.\} and Andrew Urquhart",

year = "2026",

month = feb,

day = "19",

doi = "10.1080/1351847X.2026.2613907",

language = "English",

volume = "32",

pages = "204--226",

journal = "European Journal of Finance",

issn = "1351-847X",

publisher = "Taylor \& Francis",

number = "2",

}

TY - JOUR

T1 - Environmental Attention and Cryptocurrency Bubbles

T2 - Insights from the Cryptocurrency Environmental Attention Index

AU - Chowdhury, Md Shahedur R.

AU - Urquhart, Andrew

PY - 2026/2/19

Y1 - 2026/2/19

N2 - We examine the association between cryptocurrency environmental attention and cryptocurrency bubbles. Our results indicate that environmental attention is positively associated with the probability of a cryptocurrency bubble and ranks as the second most important explanatory factor. The positive association is more pronounced for smaller, less-mature, and proof-of-work (PoW) cryptocurrencies, indicating that cryptocurrency characteristics are important determining factors of bubble formation.

AB - We examine the association between cryptocurrency environmental attention and cryptocurrency bubbles. Our results indicate that environmental attention is positively associated with the probability of a cryptocurrency bubble and ranks as the second most important explanatory factor. The positive association is more pronounced for smaller, less-mature, and proof-of-work (PoW) cryptocurrencies, indicating that cryptocurrency characteristics are important determining factors of bubble formation.

KW - Cryptocurrency

KW - bubbles

KW - cryptocurrency environmental attention

KW - ICEA

KW - sustainability

U2 - 10.1080/1351847X.2026.2613907

DO - 10.1080/1351847X.2026.2613907

M3 - Article

SN - 1351-847X

VL - 32

SP - 204

EP - 226

JO - European Journal of Finance

JF - European Journal of Finance

IS - 2

ER -

Environmental Attention and Cryptocurrency Bubbles: Insights from the Cryptocurrency Environmental Attention Index

Abstract

Keywords

Access to Document

Fingerprint

Cite this