Suspicious trading in nonfungible tokens (NFTs)
通过Benford定律、t检验聚类和Pareto-Levy分析，研究大量NFT交易中的价格模式，识别出异常交易，暗示可能存在市场操纵，并强调监管必要性。
This paper employs a three-pronged approach to examine price patterns in a substantial chunk of trades in nonfungible token (NFT) transactions to identify suspicious trading activities. Tests based on Benford's Law, clustering via Student's t-test, and Pareto-Levy analyses identify nonconformity. This potentially signals manipulation. Reapplying Benford's Law to a subset of 50 highly popular NFTs’ trading volumes, we observe adherence in first and second digits. To ensure robustness, we re-apply a χ2 test and the Mean Absolute Deviation statistic and notice that the principal findings accord with contemporary research on cryptocurrencies and certain asset classes in the traditional financial markets. Our findings constitute further evidence on the Wild Wild West nature of emerging digital asset markets and underscore the need for regulation to prevent market abuse and instill investor confidence.