Dollar’s role in institutional and media impact on stablecoins

Filezac de l’Etang,

Finance Research Letters, 2024, vol. 61, issue C

Abstract: Investigating the impact of heterogeneous announcements on stablecoin transaction volumes, an event study is conducted on stablecoins using intraday data. The assumption is that the backed-asset creates a channel through which announcements exert an effect on cryptocurrency transaction volumes. Results indicate that decentralized stablecoins are more sensitive to institutional announcements than both USDC and USDT, suggesting potential policy implications as international coordination or monitoring. The media are found to be worth watching concerning USDT and can play an active role in shaping trading volume over a short time period.

Keywords: Stablecoin; Transaction volumes; Event study, policy implications, institutions, media, decentralize (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:61:y:2024:i:c:s1544612324000291

DOI: 10.1016/j.frl.2024.104999

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