Anatomy of a Stablecoin’s failure: The Terra-Luna case
comunitat-uji-handle:10234/9
comunitat-uji-handle2:10234/8643
comunitat-uji-handle3:10234/8644
comunitat-uji-handle4:
INVESTIGACIONEste recurso está restringido
https://doi.org/10.1016/j.frl.2022.103358 |
Metadatos
Título
Anatomy of a Stablecoin’s failure: The Terra-Luna caseFecha de publicación
2023Editor
ElsevierISSN
1544-6123; 1544-6131Cita bibliográfica
BRIOLA, Antonio, et al. Anatomy of a Stablecoin’s failure: The Terra-Luna case. Finance Research Letters, 2023, 51: 103358.Tipo de documento
info:eu-repo/semantics/articleVersión
info:eu-repo/semantics/publishedVersionPalabras clave / Materias
Resumen
We quantitatively describe the main events that led to the Terra project’s failure in May
2022. We first review, in a systematic way, news from heterogeneous social media sources;
we discuss the fragility of the ... [+]
We quantitatively describe the main events that led to the Terra project’s failure in May
2022. We first review, in a systematic way, news from heterogeneous social media sources;
we discuss the fragility of the Terra project and its vicious dependence on the Anchor protocol.
We hence identify the crash’s trigger events, analysing hourly and transaction data for Bitcoin,
Luna, and TerraUSD. Finally, using state-of-the-art techniques from network science, we study
the evolution of dependency structures for 61 highly capitalised cryptocurrencies during the
down-market and we also highlight the absence of herding behaviour analysing cross-sectional
absolute deviation of returns. [-]
Publicado en
Finance Research Letters, 2023, 51: 103358.Derechos de acceso
© 2022 Elsevier Inc. All rights reserved
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