0561400 20230324090325.520220921235959.9 85128287939 000782985200001 10.1186/s40854-022-00343-8 26 s. E cav_un_epca*0525779Financial Innovation8Springer Cryptocurrencies Cryptoassets Bitcoin Stablecoins Tether cav_un_auth*0256902 Krištoufek Ladislav UTIA-B Ekonometrie Department of Econometrics E E Department of Econometrics CZ Ústav teorie informace a automatizace AV ČR, v. v. i. http://library.utia.cas.cz/separaty/2022/E/kristoufek-0561400.pdf https://jfin-swufe.springeropen.com/articles/10.1186/s40854-022-00343-8 GA20-17295S GA ČR cav_un_auth*0397556 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. WOS AH 50000 50200 50201 2023 1 RVO:67985556 https://hdl.handle.net/11104/0334650 S 37 1* Article Business Finance|Social Sciences Mathematical Methods C BUSINESS.FINANCE|SOCIALSCIENCES.MATHEMATICALMETHODS 7.3 1.8 2.7 0.00186 0.963 2197 1.171 7.400 90 Q1 98.4 Q3 Q2 2.57 Q1 99.1 2022 85128287939 SCOPUS PUBMED 000782985200001 WOS cav_un_epca*0525779 Financial Innovation 2199-4730 Roč. 8 č. 1 2022 Springer