The price and liquidity impact of China forbidding initial coin offerings on the cryptocurrency market
Sijia Zhang, Andros Gregoriou
Abstract
In this article, we empirically examine the cryptocurrency market reaction to china prohibiting initial coin offerings, on the 4 September 2007 for the 100 largest cryptocurrencies. The announcement has a significant negative but temporary impact on cryptocurrency returns and liquidity.
Topics & Concepts
CryptocurrencyMarket liquidityChinaEconomicsMonetary economicsBusinessCommerceFinancial economicsComputer securityComputer sciencePolitical scienceLawBlockchain Technology Applications and SecurityArt History and Market AnalysisFinancial Markets and Investment Strategies