TY - JOUR
T1 - Analysis of ego multi-token transfer networks
T2 - a multilayer approach
AU - Coquidé, Célestin
AU - Cazabet, Rémy
AU - Tovanich, Natkamon
N1 - Publisher Copyright:
© The Author(s) 2025.
PY - 2025/12/1
Y1 - 2025/12/1
N2 - This study introduces the Multilayer Token Network (MLTN), a mathematical framework for analyzing Ethereum token transfers while capturing inter-token transformations crucial to Decentralized Finance (DeFi). Focusing on prominent fund accounts, we propose the PageRank-CheiRank Trade Balance (PCTB), an econometric measure inspired by balance sheet principles to quantify trade behavior over time. Applying MLTN to 2018–2024 transaction data, we reveal Alameda Research’s evolving trade strategies, fund interdependencies, and token-specific accumulation and distribution patterns, offering new insights into on-chain financial activities.
AB - This study introduces the Multilayer Token Network (MLTN), a mathematical framework for analyzing Ethereum token transfers while capturing inter-token transformations crucial to Decentralized Finance (DeFi). Focusing on prominent fund accounts, we propose the PageRank-CheiRank Trade Balance (PCTB), an econometric measure inspired by balance sheet principles to quantify trade behavior over time. Applying MLTN to 2018–2024 transaction data, we reveal Alameda Research’s evolving trade strategies, fund interdependencies, and token-specific accumulation and distribution patterns, offering new insights into on-chain financial activities.
KW - Blockchain analytics
KW - Cryptocurrency network
KW - Ethereum
KW - Multilayer network
KW - PageRank centrality
KW - Token transfer network
UR - https://www.scopus.com/pages/publications/105014603262
U2 - 10.1007/s41109-025-00712-z
DO - 10.1007/s41109-025-00712-z
M3 - Article
AN - SCOPUS:105014603262
SN - 2364-8228
VL - 10
JO - Applied Network Science
JF - Applied Network Science
IS - 1
M1 - 37
ER -