Do Whitepaper Claims Predict Market Behavior? Evidence from Cryptocurrency Factor Analysis

Abstract

Do the functional purposes articulated in cryptocurrency whitepapers correspond to how markets actually price these assets? We propose a three-stage framework combining NLP with market characterization to test narrative-market alignment. A pilot on 8 cryptocurrencies yields overall congruence of 0.719 (95% CI: [0.623, 0.953]).

Methodology

Suggested Citation

BibTeX

@misc{farzulla2025_whitepaper_factor_analysis,
  author       = {Farzulla, Murad},
  title        = {Do Whitepaper Claims Predict Market Behavior? Evidence from Cryptocurrency Factor Analysis},
  year         = {2025},
  howpublished = {ASCRI Working Paper DAI-2508},
  doi          = {10.48550/arXiv.2601.20336},
  url          = {https://systems.ac/3/DAI-2508}
}

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