fbpx
MARKET CAP
341.05B
BTC
58.2%
ETH
11.7%
News + Portfolio
News
Coins
🔥
Promote your crypto project here for just 0.1 ETH per day!
Advertise here
News




🔥
Promote your crypto project here for just 0.1 ETH per day!
Advertise here
5 y

Study on the impact of Tether (USDT) grants on Bitcoin finds “no evidence” of price manipulation

To find out the suspected correlation between Tether (USDT) issuance and Bitcoin (BTC) price movement, Wang Chun Wei, a lecturer in finance at the University of Queensland Business School, conducted a study. The study published by the University of Queensland found that the issue of USDT tokens did not have a “statistically significant” effect on the price movement of BTC. The study was carried out since in recent years, USDT issuances (or ‘grants’) have increased significantly, and have been correlated broadly with the rise in BTC valuation. In the paper, the impact of cryptocurrency grants on subsequent cryptocurrency returns was examined. Wang Chun Wei’s latest study, titled “The impact of Tether grants on Bitcoin”, refutes the correlation between price fluctuations and USDT grants. However, it does note that there’s a “positive relationship” between USDT issuance and “increased crypto-trading the following day”. “We construct a VAR model and show contrary to investor expectations, Tether issuances do not impact subsequent BTC returns, however, they do impact traded volumes. We also document an increase in USDT trading following a subsequent decrease in BTC returns,” the paper stated. The key assertions concluded by the study include, “It is unlikely that Tether manipulation caused the 2017 Bitcoin rally,” and “USDT grants did not Granger-cause BTC returns.” An autoregressive distributed lag (ADL) model was used to test “if Tether grants Granger-cause BTC returns,” finding “no evidence suggesting USDT grants Granger cause BTC returns.” The results of the research clashed with the study conducted by John Griffin from the University of Texas. Griffin's study concluded that there was an artificial increase in BTC prices caused by excessive emissions of Tether (USDT). According to Bitcoin.com, Wang Chun Wei cited the work of Griffin and Shams and stated, “After tracking transactions between individual wallets…using over 200 BG worth of blockchain data…[Griffin and Shams (2018) found] that purchases with USDT are timed following Bitcoin downturns, suggesting USDT was used to support and manipulate BTC prices.” Wei stated, “[The] findings show that USDT grants were potentially timed to follow BTC downturns and subsequent Bitcoin/Tether trading volumes increased, confirming Griffin and Shams (2018) narrative.” See also: The Dirty Money quest: Bitcoin Tracker launched by Longhash Bitcoin to touch $10,000 by the end of 2018, says bullish Mike Novogratz Image via Shutterstock Join our Telegram group
3 m
1
1
Shiba Inu Whales Exiting From Exchanges: Is This Bullish? On-chain data shows the Shiba Inu whales have been withdrawing from exchanges recently. Here's what this could mean for SHIB's price.
3 m
Snek от Cardano и Bonk от Solana взлетели до новых высот — догонит ли их мемкоин от Ethereum Разбираемся, почему растут SNEK от Cardano, BONK от Solana и Meme Moguls от Ethereum. Кто окажется лидером в этой гонке
3 m
Aave: Is a rally on the cards? In a recent post on X (formerly Twitter), on-chain analytics firm Santiment said that the price of Aave [AAVE] might not reflect the...
3 m
3 m
Aave: Is a rally on the cards? In a recent post on X (formerly Twitter), on-chain analytics firm Santiment said that the price of Aave [AAVE] might not reflect the...
3 m
2
1
Meme Coin Launches Advertising Blitz Get the latest crypto and stock market news. Stay up-to-date with the latest trends and developments.
3 m
Минюст США обвинил создателей Federal Crypto Reserve в криптовалютном мошенничестве Министерство юстиции США обвинило двух человек, гражданина Австралии и жителя Калифорнии, в создании нескольких криптовалютных схем и краже у инвесторов $25 млн.
3 m
Минюст США обвинил создателей Federal Crypto Reserve в криптовалютном мошенничестве Министерство юстиции США обвинило двух человек, гражданина Австралии и жителя Калифорнии, в создании нескольких криптовалютных схем и краже у инвесторов $25 млн.
3 m
1
3 m
Минфин РФ предлагает экспортировать криптовалюту Министерству финансов России пришла идея — экспортировать добытую на территории страны криптовалюту так же, как экспортируют газ
3 m
3 m
Major Japanese Exchange Adds Support for Shiba Inu (SHIB) Coincheck has announced the addition of Shiba Inu (SHIB) to its trading services
3 m
Snek от Cardano и Bonk от Solana взлетели до новых высот — догонит ли их мемкоин от Ethereum Разбираемся, почему растут SNEK от Cardano, BONK от Solana и Meme Moguls от Ethereum. Кто окажется лидером в этой гонке
3 m
U.S. CFTC Approves Bitcoin Futures Platform Bitnomial's Derivatives Clearing Application The commissioners discussed issues like conflict of interest before ultimately voting in favor of the margined bitcoin futures company.
Promote your ICO here for just 0,1 ETH per day
Advertise here

Coins

#
FAV
NAME
PRICE
Portfolio
1H
24H
7D
Promote your ICO here for just 0,1 ETH per day
Advertise here
1
Bitcoin
Bitcoin
BTC
$ 69 927.68
$ - - - - -
( - - - - - )
Set your amount
OK
+0.44%
-0.85%
+7.65%
2
Ethereum
Ethereum
ETH
$ 3 540.04
$ - - - - -
( - - - - - )
Set your amount
OK
+0.38%
-1.06%
+2.83%
3
Tether USDt
Tether USDt
USDT
$ 1
$ - - - - -
( - - - - - )
Set your amount
OK
0.00%
+0.06%
+0.01%
4
BNB
BNB
BNB
$ 612.10
$ - - - - -
( - - - - - )
Set your amount
OK
+0.38%
+4.38%
+6.87%
5
Solana
SOL
$ 184.96
$ - - - - -
( - - - - - )
Set your amount
OK
+0.63%
-0.55%
+5.61%
6
XRP
XRP
XRP
$ 0.619606
$ - - - - -
( - - - - - )
Set your amount
OK
+1.08%
+0.02%
-0.64%
7
USDC
USDC
USDC
$ 0.999996
$ - - - - -
( - - - - - )
Set your amount
OK
0.00%
-0.01%
-0.01%
8
Dogecoin
Dogecoin
DOGE
$ 0.214759
$ - - - - -
( - - - - - )
Set your amount
OK
+1.57%
+1.66%
+35.06%
9
Cardano
Cardano
ADA
$ 0.644057
$ - - - - -
( - - - - - )
Set your amount
OK
+0.79%
-0.84%
+2.95%
10
Avalanche
AVAX
$ 53.47
$ - - - - -
( - - - - - )
Set your amount
OK
+0.16%
-1.40%
-2.61%
11
Shiba Inu
SHIB
$ 0
$ - - - - -
( - - - - - )
Set your amount
OK
+0.61%
-2.77%
+13.32%
12
Toncoin
TON
$ 4.91
$ - - - - -
( - - - - - )
Set your amount
OK
+1.67%
+0.16%
+11.16%
13
Polkadot
DOT
$ 9.42
$ - - - - -
( - - - - - )
Set your amount
OK
+0.07%
-1.41%
+3.24%
14
Bitcoin Cash
Bitcoin Cash
BCH
$ 609.60
$ - - - - -
( - - - - - )
Set your amount
OK
+4.08%
+7.74%
+49.61%
16
TRON
TRON
TRX
$ 0.119782
$ - - - - -
( - - - - - )
Set your amount
OK
+0.09%
-0.20%
-0.80%
17
Polygon
Polygon
MATIC
$ 0.990563
$ - - - - -
( - - - - - )
Set your amount
OK
+0.34%
-2.38%
+0.11%
18
Internet Computer
ICP
$ 17.53
$ - - - - -
( - - - - - )
Set your amount
OK
+0.74%
-1.38%
+30.05%
19
Uniswap
UNI
$ 12.64
$ - - - - -
( - - - - - )
Set your amount
OK
+0.52%
+1.88%
+6.40%
20
Litecoin
Litecoin
LTC
$ 100.24
$ - - - - -
( - - - - - )
Set your amount
OK
+4.05%
+5.08%
+19.86%
21
NEAR Protocol
NEAR
$ 7.02
$ - - - - -
( - - - - - )
Set your amount
OK
+0.73%
-4.32%
+6.74%