We analyze the influence of stablecoin issuances on the returns of major cryptocurrencies across 565 issuance events of $1 million or more for seven different stablecoins on four different blockchains between April 2019 and March 2020.
Bitcoin Transactions, Information Asymmetry and Trading Volume
Blockchain Research Blog2020-11-10T07:43:43+02:00The 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.
Market Reaction to Large Transfers on the Bitcoin Blockchain – Do Size and Motive Matter?
Blockchain Research Blog2020-11-10T07:47:53+02:00Cryptocurrency 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
Blockchain Research Blog2020-11-10T07:52:35+02:00This 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.
Dominating OP Returns: The Impact of Omni and Veriblock on Bitcoin
Blockchain Research Blog2020-11-10T07:54:21+02:00This paper provides an in-depth analysis of all OP Return transactions published on Bitcoin between September 14, 2018, and December 31, 2019. The 32.4 million OP Return transactions (22% of all Bitcoin transactions) published during...
Cross-listings of Blockchain-based Tokens issued through Initial Coin Offerings: Do Liquidity and specific Cryptocurrency Exchanges matter?
Blockchain Research Blog2020-11-10T07:59:29+02:00This study analyzes 250 exchange cross-listings of 135 different tokens issued through ICOs on 22 cryptocurrency exchanges...
Market Reaction to Exchange Listings of Cryptocurrencies
Blockchain Research Blog2020-11-10T08:04:07+02:00This study explores 327 exchange listings of 180 cryptocurrencies on 22 different cryptocurrency exchanges and examines the resulting price effects...
Discovering market prices: Which price formation model best predicts the next trade?
Blockchain Research Blog2020-05-06T19:47:48+02:00For most purposes of technical analysis, valuation metrics and many other relevant financial methods, the price of the last transaction is considered representative of...