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Daily network digest

Saturday, December 20, 2025

Directed information-flow networks for this session, covering Cryptocurrency. Each class is estimated independently over a trailing one-year window; the tables below rank the assets carrying the most influence within their own network.

Cryptocurrency

KEEPUSD was the most central name, carrying 10.85× the influence of an average node across 379 assets.

assets
379
Density
0.118
Clustering
0.374
Diameter
2

Most central

Ranked by PageRank within the session's directed network. “vs average” shows influence relative to a node with no advantage — 1.00× would mean perfectly ordinary.

Symbol#PageRank vs averageReceives fromSends toStrongest outgoing
KEEPUSD 1 0.02863 10.85× 80.2% 9.3% CQTUSD, YGGUSD, ZECUSD, TAOUSD, TRACUSD
GARIUSD 2 0.01386 5.25× 63.2% 22.5% INVUSD, KEEPUSD, ONDOUSD, STRDUSD, NYMUSD
MNGOUSD 3 0.01380 5.23× 59.5% 31.7% EGLDUSD, TUSD, CELRUSD, GLMUSD, SHPINGUSD
REQUSD 4 0.01331 5.05× 53.7% 10.8% MVUSD, HBARUSD, PROUSD, QIUSD, RBCUSD
BSXUSD 5 0.01229 4.66× 56.3% 8.7% FLOKIUSD, PRIMEUSD, REPUSD, SGBUSD, SUSHIUSD
PROUSD 6 0.01162 4.41× 53.2% 20.6% HNTUSD, PNKUSD, ASMUSD, ATOMUSD, MVUSD
BNCUSD 7 0.01004 3.81× 43.4% 42.9% ETHBTC, LCXUSD, AUDIOUSD, BTTUSD, SDUSD
REPUSD 8 0.00978 3.71× 43.7% 14.3% RARIEUR, KEEPUSD, AXSUSD, MASKUSD, AUDIOUSD
MOONUSD 9 0.00905 3.43× 37.6% 9.3% MNGOUSD, KAVAUSD, KRLUSD, SHDWUSD, BITUSD
ASMUSD 10 0.00898 3.40× 43.1% 10.6% MNTUSD, BADGERUSD, MDTUSD, BNCUSD, XMRUSD

Rising influence vs 2025-12-19

SymbolPageRank PreviousChange
KEEPUSD 0.028630.00824 +0.02039
GARIUSD 0.013860.00539 +0.00847
MNGOUSD 0.013800.00538 +0.00842
PROUSD 0.011620.00486 +0.00677
ASMUSD 0.008980.00283 +0.00615

Falling influence

SymbolPageRank PreviousChange
CQTUSD 0.004490.01322 -0.00873
KAVAUSD 0.005310.01304 -0.00773
XAUTUSD 0.004220.00955 -0.00532
KINUSD 0.005970.01124 -0.00527
DNTUSD 0.002590.00763 -0.00504

How these numbers are produced

Transfer entropy measures how much knowing one asset's past reduces uncertainty about another's future, beyond what that asset's own past already explains. Unlike correlation it is directional, so an edge from A to B means A's moves carry information about B's next move — not merely that they move together.

Each night we estimate transfer entropy across three universes — roughly 1,500 US common stocks, 350 cryptocurrencies and 550 currency pairs — over a trailing one-year window, conditioning on a broad market series so that shared market-wide movement is discounted rather than counted as a link. Edges surviving the significance filter form that session's directed network, from which the centrality figures on this page are computed. Coverage differs by class: crypto reaches back to January 2024, equities to August 2025, so older digests may cover fewer classes.

PageRank ranks an asset by how much influence flows into it from other influential assets. In-degree and out-degree are the share of the network sending information to it and receiving information from it. Betweenness captures how often an asset sits on the shortest path between two others.

The volatility watch score is a model estimate of the probability that an asset sees elevated volatility in the coming sessions. It is a research output, not a forecast of price direction, and nothing on this page is investment advice.