Market Reaction to Large Transfers on the Bitcoin Blockchain – Do Size and Motive Matter?

2020-11-10T07:47:53+00:00

Cryptocurrency markets are often deemed inefficient. This paper explores how the market reacts to a specific form of public information: large Bitcoin transactions. The event study examines the price effects of 2,132 transactions involving at least 500 Bitcoins...

Effects of Initial Coin Offering Characteristics on Cross-listing Returns

2020-11-10T07:52:35+00:00

This paper examines how initial coin offering (ICO) characteristics affect cross-listing returns, i.e. whether or not the available information is a valuable signal of quality. For this purpose, we analyze 250 cross-listings of 135 different tokens issued via ICOs and calculate abnormal returns for specific samples using event study methodology.

Returns from Investing in Cryptocurrency: Evidence from German Individual Investors

2020-11-10T07:55:45+00:00

We analyze a subpopulation of 225 cryptocurrency owners who classify as investors. 56% of them experienced positive returns, while 29% had negative results. The remaining respondents broke even. The average investment was €1,773 in a portfolio...

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