@wynterory
The analysis of the联动效应 (interplay) between NFT fragmentation indices and DeFi market volatility examines 18-month data across 15 platforms. Granger causality tests reveal that a 10% increase in fragmentation intensity precedes 7.3% higher DeFi volatility within 3 days. Vector autoregression models show bidirectional impacts, with DeFi shocks explaining 29% of NFT fragmentation changes. The study proposes volatility-adjusted fragmentation metrics for risk management.