IDEAS home Printed from https://ideas.repec.org/a/ags/thkase/334652.html
   My bibliography  Save this article

ผลกระทเหรียญเสถียรภาพเป็ นสินทรัพย์ปลอดภัยหรือเป็ นสินทรัพย์ป้องกันความ เสี่ยงสา หรับคริปโทเคอร์เรนซีบเชิงสาเหตุของบัตรสวัสดิการแห่งรัฐต่อความยากจนทางเศรษฐกิจ

Author

Listed:
  • Nittayakamolphun, Pitipat
  • Bejrananda, Thanchanok
  • Pholkerd, Panjamapon

Abstract

Due to high returns and different components from other financial assets, cryptocurrencies have gained considerable popularity regardless of their high volatility and risks. Investors may consider investing in safer assets rather than cryptocurrencies. Therefore, this paper studies the role of stablecoins as a safe haven or a hedge against cryptocurrencies. Daily data collection from November 2020 to May 2022 displayed that the stablecoins are fit as hedging assets for cryptocurrency from its decline in yields and the higher volatility. Tether is suitable as a safe-haven asset, while USD Coin and True USD are suitable as diversification assets, and Dai is suitable as both hedging and diversification assets. It is marked that the role of the stablecoin is different for each cryptocurrency. Therefore, it is advisable that investors invest in stablecoins in combination with cryptocurrencies to hedge and diversify their investments.

Suggested Citation

  • Nittayakamolphun, Pitipat & Bejrananda, Thanchanok & Pholkerd, Panjamapon, 2022. "ผลกระทเหรียญเสถียรภาพเป็ นสินทรัพย์ปลอดภัยหรือเป็ นสินทรัพย์ป้องกันความ เสี่ยงสา หรับคริปโทเคอร์เรนซีบเชิงสาเหตุของบัตรสวัสดิการแห่งรัฐต่อความยากจนทางเศรษฐกิจ," Asian Journal of Applied Economics, Kasetsart University, Center for Applied Economics Research, vol. 29(2).
    • Handle: RePEc:ags:thkase:334652
    DOI: 10.22004/ag.econ.334652
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/334652/files/4.Vol29Issue2_p45-70.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.334652?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    Financial Economics;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:thkase:334652. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/darkuth.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.