Identifying influential risk spreaders in cryptocurrency networks based on the novel gravity strength centrality model

A novel approach of gravity strength centrality (GSC) model is proposed to identify the influential risk spreaders in cryptocurrency networks. We also validate the performance of GSC model in terms of discrimination and accuracy using methods such as individuation rate, imprecision function, and Kendall coefficient. Our findings show that (i) the novel GSC model can serve as an excellent indicator for measuring risk spreaders in the cryptocurrency market, (ii) Ethereum has a stronger influence compared to Bitcoin,(iii) the role of cryptocurrency EOS is increased after the COVID-19 pandemic.