Graphical abstract
The image presents a diagram comparing cross-market volatility contagion between Decentralized Finance (DeFi) assets and traditional markets. The top section features the title and key metrics indicating average connectedness, high intra-market connectedness, and low cross-market spillovers. The left circle labeled "DeFi Assets" illustrates high internal connectedness, featuring four interconnected blue circles, suggesting strong internal relationships. The right circle titled "Traditional Markets" shows size-based connectedness with four colored circles indicating varying levels of connectedness. Below both sections, three categories, short term, medium term, and long term, are highlighted in distinct colors with descriptions indicating their respective levels of connectedness. The arrangement flows left to right, with each component aligned horizontally within its section.