Stablecoins as a crypto safe haven? Not all of them!
Eduard Baumohl () and
Tomáš Výrost ()
EconStor Preprints from ZBW - Leibniz Information Centre for Economics
We test the safe haven properties of the largest stablecoins (USDT, USDC, TUSD, PAX, DAI, GUSD) against the standard “nonstable” coins (BTC, ETH, XRP, BCH, LTC). Our dataset comprises high-frequency 1-minute data calculated as volume-weighted averages across 18 exchanges where these cryptocurrencies are traded, thus capturing the entire price movement around the world. Using a quantile coherency cross-spectral measure, we find that only TUSD, PAX, and GUSD can serve as safe havens.
Keywords: cryptocurrencies; stablecoins; quantile dependence; cross-spectral analysis; diversification; safe haven (search for similar items in EconPapers)
JEL-codes: G11 G15 F31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-pay and nep-rmg
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
https://www.econstor.eu/bitstream/10419/215484/1/S ... o%20safe%20haven.pdf (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:zbw:esprep:215484
Access Statistics for this paper
More papers in EconStor Preprints from ZBW - Leibniz Information Centre for Economics Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().