On the role of stablecoins in cryptoasset pricing dynamics
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985556%3A_____%2F22%3A00561400" target="_blank" >RIV/67985556:_____/22:00561400 - isvavai.cz</a>
Alternative codes found
RIV/00216208:11230/22:10447672
Result on the web
<a href="https://jfin-swufe.springeropen.com/articles/10.1186/s40854-022-00343-8" target="_blank" >https://jfin-swufe.springeropen.com/articles/10.1186/s40854-022-00343-8</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1186/s40854-022-00343-8" target="_blank" >10.1186/s40854-022-00343-8</a>
Alternative languages
Result language
angličtina
Original language name
On the role of stablecoins in cryptoasset pricing dynamics
Original language description
We examine the interactions between stablecoins, Bitcoin, and a basket of altcoins to uncover whether stablecoins represent the investors’ demand for trading and investing into cryptoassets or rather play a role as boosting mechanisms during cryptomarkets price rallies. Using a set of instruments covering the standard cointegration framework as well as quantile-specific and non-linear causality tests, we argue that stablecoins mostly reflect an increasing demand for investing in cryptoassets rather than serve as a boosting mechanism for periods of extreme appreciation. We further discuss some specificities of 2017, even though the dynamic patterns remain very similar to the general behavior. Overall, we do not find support for claims about stablecoins being bubble boosters in the cryptoassets ecosystem.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50201 - Economic Theory
Result continuities
Project
<a href="/en/project/GA20-17295S" target="_blank" >GA20-17295S: Cryptoassets: Pricing, Interconnectedness, Mining, and their Interactions</a><br>
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2022
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Financial Innovation
ISSN
2199-4730
e-ISSN
2199-4730
Volume of the periodical
8
Issue of the periodical within the volume
1
Country of publishing house
CH - SWITZERLAND
Number of pages
26
Pages from-to
37
UT code for WoS article
000782985200001
EID of the result in the Scopus database
2-s2.0-85128287939