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.
In this book the key concepts of blockchain technology and an overview of the machinations of different blockchain ecosystems are presented. The socio-economic impact of this new technology is discussed including its impact on sectors such as energy, data, capital markets, logistics, and gambling.
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.
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...
At the example of the regulatory framework for online gambling in Germany, this paper conceptualises and discusses how a dedicated blockchain system can be employed to separate monetary streams ...
For most purposes of technical analysis, valuation metrics and many other relevant financial methods, the price of the last transaction is considered representative of...
Startups and small and medium-sized enterprises (SMEs) account for a significant share of the economy but are often constrained in their growth potential, as they have difficulty accessing capital markets...
This study explores the determinants of initial coin offering (ICO) success, where success is defined as the amount of capital a project could raise. ICOs are...
The current system of securities clearing and settlement is dysfunctional, slow, prone to fraud, and expensive to operate. An alternative system based on distributed ledger technology...
