Abstract

This study introduces the concept of “sustainable cryptocurrencies”, unifying green and energy cryptocurrencies within a sustainability framework. Using transfer entropy-based network analysis, we examine their dynamics alongside diverse assets in the pre- and post-COVID periods. Our results reveal that sustainable cryptocurrencies exhibit strong volatility interconnections with major cryptocurrencies and the energy index, highlighting their unique characteristics. Meanwhile, green cryptocurrencies are more internally connected, and energy cryptocurrencies are closely tied to the energy index in the post-COVID period. These insights provide investors with guidance on using sustainable cryptocurrencies for portfolio diversification and risk management in line with sustainability goals.