How do Stablecoin Issuances affect Cryptocurrency Markets?

Stablecoins are digital currencies whose value is pegged to fiat currencies like the dollar. We analyze the influence of stablecoin issuances on the returns of major cryptocurrencies and conclude that stablecoins contribute to price discovery and market efficiency of cryptocurrencies.

Investigating the Market Reaction to Large Transactions on the Bitcoin Blockchain

A specific feature of the blockchain technology and thus also of the Bitcoin network is the underlying transparency. Each network participant can observe in virtually real time how many and what kind of transactions take place in the Bitcoin...

A Week With Bitcoin: Transaction Timing and Transaction Fees

This third and last blog post takes a look at intra-week patterns of Bitcoin activity. The following chart shows transactions and fees aggregated by weekday and hour. Activity was high on workdays and on afternoons, and low on weekends and on early mornings. The same is true for transaction fees...