The Impact of Transparent Money Flows: Effects of Stablecoin Transfers on Return and Trading Volume of Bitcoin

2020-11-13T14:07:13+00:00

A sample of 1,587 stablecoin transfers of one million dollars or more is analyzed to find out how they affect Bitcoin returns and trading volume. We find effects on trading volume and returns in the hours around transfers. The findings illustrate the feedback effects between cryptocurrency markets and stablecoin usage.

Exclusive Mining of Blockchain Transactions

2020-11-10T07:34:08+00:00

We study an unintended alternative to peer-to-peer propagation: Exclusive mining. Exclusive mining is a type of collusion between a transaction initiator and a single miner (or mining pool). The initiator sends transactions through a private channel directly to the miner instead of propagating them through the peer-to-peer network.

Bitcoin Transactions, Information Asymmetry and Trading Volume

2020-11-10T07:43:43+00:00

The underlying transparency of the Bitcoin blockchain allows transactions in the network to be tracked in near real-time. When someone transfers a large number of Bitcoins, the market receives this information and traders can adjust their expectations based on the new information.

Smart Contracts on the Blockchain – A Bibliometric Analysis and Review

2020-11-10T07:45:21+00:00

Smart contracts are decentrally anchored scripts on blockchains or similar infrastructures that allow the transparent execution of predefined processes. Using smart contracts, assets like money become programmable, which...

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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