“Shiny” crypto assets: A systemic look at gold-backed cryptocurrencies during the COVID-19 pandemic

Jalan, Akanksha; Matkovskyy, Roman; Yarovaya, Larisa

doi:10.1016/j.irfa.2021.101958

Cited by 44 publications

(31 citation statements)

References 68 publications

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“…Cryptocurrencies are considered riskier as any central body does not regulate them. Higher technical knowledge and awareness can minimize perceived risk and mediate the positive relationship between technology awareness and consumers' behavioral intention (Jalan et al, 2021).…”

Section: Discussionmentioning

confidence: 99%

“…People are afraid of embracing new technology for various reasons, while the most common is the level of uncertainty (Lim, 2003;Mizanur and Sloan, 2017). Jalan et al (2021) defined risk as a knowledge of the degree of insecurity used to consider investors' or customers' decisions to adopt a technology (Slovic et al, 1982;Anser et al, 2020). Moreover, perceived risk was a crucial factor in using and adopting technology.…”

Section: Introductionmentioning

confidence: 99%

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Factors Affecting Adaptability of Cryptocurrency: An Application of Technology Acceptance Model

et al. 2022

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Cryptocurrency has revolutionized the economic system of the world. It provides a new and innovative means of exchange that has speedily invaded the financial market trends and changed the traditional cash world. However, consumers have low acceptability for blockchain-based cryptocurrency due to increasing online scams and the absence of a regulatory framework. There is also a misconception about its usage on many platforms, which has created a clear gap in the literature to address this issue. Therefore, the current study intends to investigate the effect of technology awareness on the behavioral intention of crypto users through perceived factors (usefulness, ease of use, risk). It also empirically examines the moderating role of government support on these indirect paths. The underlying framework is investigated by surveying 333 respondents from the Z generation. Results revealed that perceived factors (usefulness, ease of use, risk) mediate the relationship between technology awareness and behavioral intention. Furthermore, government support strengthens the indirect relationship of technology awareness on behavioral intention through technology acceptance determinants, such that the effect of technology awareness on behavioral intention through perceived factors (usefulness, ease of use, risk) is more assertive when government support is high. The findings will provide a new dimension to different financial bodies implementing monetary policy and highlight the need to adopt innovative digital technologies in Pakistan.

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Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Factors Affecting Adaptability of Cryptocurrency: An Application of Technology Acceptance Model

et al. 2022

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“…It is evident from the quantile regression results that a decrease in gold volatility under average and extreme market conditions changes the value of ETF. Jalan et al (2021) empirically tested the role of five gold-backed cryptocurrencies and gold against equities during the pandemic. They found that gold-backed cryptocurrencies do not show safe haven property like gold.…”

Section: Literature Reviewmentioning

confidence: 99%

A Comparative Analysis on the Role and Market Linkages of Gold Backed Assets During COVID-19 Pandemic

Madhavan

Sreejith

2022

Sci. Ann. Econ. Bus.

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Gold is a traditional favorite investment avenue for investors all over the globe, particularly during the crisis period. Irrespective of the nature of the crisis, investors are allocating their funds to different gold-backed assets. This paper uses various globally traded gold-backed assets to identify its role and market linkages during the Covid 19 pandemic. Daily prices of assets from March 2020 to January 2022 were employed. DCC GARCH model is used to ascertain time-varying correlations and quantile regression was employed to examine the relationship between assets in different quantiles. Based on the analysis, safe haven property of all the assets is revealed and it is associated with the severity of the stock market crash as specified by the quantiles. Moreover, double exposure of gold mining stock results in different flights to quality. Co-movement of gold bullion, gold futures, and gold volatility index is visible during this crisis. Gold Exchange Traded Funds and gold-backed cryptocurrency offer diversification by decoupling with gold bullion in the portfolio. The paper highlights the importance of the choice of gold-backed assets along with gold bullion in the investment portfolio based on its role and market linkages.

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“…Some studies show the relationship between cryptocurrencies is strong (Bouri et al, 2021;Moratis, 2021;Zhang & Mani, 2021;Naeem et al, 2021), and cryptocurrencies are related with global events (Wang et al, 2020b;Nguyen et al, 2022), also positive and negative shocks have different effects on cryptocurrencies (Fakhfekh & Jeribi, 2020;Zhang & Mani, 2021). In addition, some of the studies analyzed (Huynh, 2020;Jalan et al, 2021) revealed that stablecoins are volatile, meaning they are not stable. Therefore, the lack of consensus on the relationship between stablecoins and cryptocurrencies makes it essential to examine and study the subject.…”

Section: International Journal Of Economic and Administrative Studiesmentioning

confidence: 99%

Kri̇pto Paralar Ve Stabi̇l Coi̇nler Arasindaki̇ Kanti̇l Bağlantililik

Kayahan

GÖKGÖZ

MURAT

2022

Uluslararası İktisadi Ve İdari İncelemeler Dergisi

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This paper aims to analyze the volatility spillover relationship between cryptocurrencies and stablecoins dynamically. Within the scope of the study, the daily closing price data of Bitcoin (BTC), Ethereum (ETH), BNB cryptocurrencies, and Tether (USDT) and USD Coin (USDC) stablecoins covering the period from January 1, 2019 to April 6, 2022 was analyzed using the Q-VAR model. Our results suggest that the volatility spillover between the cryptocurrency and stablecoins increased during the Covid-19 pandemic. Moreover, the direction and severity of volatility spillover between cryptocurrencies and stablecoins are affected by global events. While the relationship between cryptocurrencies and stablecoins themselves is strong, the relationship between each other is weak. Our findings suggest that global events influence the interaction between crypto-assets and that cryptocurrencies and stablecoins can be good diversifiers for each other. These findings have important implications for financial market regulators, portfolio investors, and academic research.

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“Shiny” crypto assets: A systemic look at gold-backed cryptocurrencies during the COVID-19 pandemic

Cited by 44 publications

References 68 publications

Factors Affecting Adaptability of Cryptocurrency: An Application of Technology Acceptance Model

Factors Affecting Adaptability of Cryptocurrency: An Application of Technology Acceptance Model

A Comparative Analysis on the Role and Market Linkages of Gold Backed Assets During COVID-19 Pandemic

Kri̇pto Paralar Ve Stabi̇l Coi̇nler Arasindaki̇ Kanti̇l Bağlantililik

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