Topic
Crypto & DeFi
Crypto assets, DeFi, stablecoins and blockchain markets.
- Papers featured
- 322
- Last 12 months
- 36
- Cited 100+
- 1
- Top venue
- arXiv
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Featured papers in this topic with the most citations today.
- 1 Dec 2025231cites
Factors Influencing Cryptocurrency Prices: Evidence from Bitcoin, Ethereum, Dash, Litcoin, and Monero
The study examines the price factors influencing five major cryptocurrencies from 2010-2018, highlighting the roles of market conditions, long-term appeal, and the SP500 index.
arXiv
- 12 Jul 202350cites
Decentralised Finance and Automated Market Making: Execution and Speculation
The study investigates automated market makers, particularly constant product market makers, and develops two optimal trading strategies using stochastic optimal control tools, as demonstrated with Uniswap v3 data.
arXiv
- 21 Sep 202349cites
Decentralised Finance and Automated Market Making: Predictable Loss and Optimal Liquidity Provision
The study outlines the wealth dynamics of strategic liquidity providers in constant product markets, proposes an optimal liquidity provision strategy, and uses Uniswap v3 data to show its effectiveness.
arXiv
- 24 May 202338cites
The Influence of ChatGPT on Artificial Intelligence Related Crypto Assets: Evidence from a Synthetic Control Analysis
New method proposed to compute security prices without third party involvement.
arXivIn Finance Research Letters
- 1 May 202437cites
The Shape of Money Laundering: Subgraph Representation Learning on the Blockchain with the Elliptic2 Dataset
The article presents Elliptic2, a dataset of Bitcoin subgraphs, to help understand and combat money laundering in cryptocurrency.
arXiv
- 29 Nov 202332cites
Deep learning and NLP in cryptocurrency forecasting: Integrating financial, blockchain, and social media data
The study uses Machine Learning and Natural Language Processing to predict Bitcoin and Ethereum prices using Twitter and Reddit data, improving forecasting accuracy.
arXivIn International Journal of Forecasting
- 11 Jun 202529cites
Price Discovery in Cryptocurrency Markets
Centralized markets typically lead in Ethereum price discovery compared to decentralized exchanges, affecting liquidity, arbitrage, and market efficiency.
arXivIn AEA Papers and Proceedings
- 10 Apr 202428cites
A comparison of cryptocurrency volatility-benchmarking new and mature asset classes
The paper analyzes the factors influencing cryptocurrency volatility from 2020 to 2022, highlighting that positive market returns, positive signed volatility, and negative daily leverage increase price volatility.
arXivIn Financial Innovation
- 30 Aug 202327cites
Axioms for Automated Market Makers: A Mathematical Framework in FinTech and Decentralized Finance
Mathematical Framework: The research introduces a new framework for Automated Market Makers, suggesting a unique fee structure and a novel AMM that reduces divergence loss.
arXivIn Oper. Res.Featured 2×
- 21 Feb 202426cites
A Data Engineering Framework for Ethereum Beacon Chain Rewards: From Data Collection to Decentralization Metrics
A study of consensus reward data from the Ethereum Beacon chain offers insights into reward distribution and evolution, aiding in the assessment and refinement of blockchain systems' decentralization, security, and efficiency.
arXivIn Scientific Data
- 6 Dec 202326cites
A dataset of Uniswap daily transaction indices by network
The study explores the effect of Layer 2 solutions on DeFi by analyzing millions of transactions from Uniswap, offering insights into adoption, scalability, and decentralization in the DeFi sector.
arXivIn Scientific Data
- 15 Jan 202522cites
The Intraday Bitcoin Response to Tether Minting and Burning Events: Asymmetry, Investor Sentiment, And "Whale Alerts" On Twitter
Bitcoin's value increases with Tether minting events, particularly when publicized and amid positive investor sentiment, but this effect lessens after an hour.
arXivIn Finance Research LettersFeatured 2×
Latest
- 6 Nov 20263fanfare
The flow, not the headline: point-in-time LLM sentiment and the cross-section of cryptocurrency returns *
Headlines scored by LLM within minutes predict cross-sectional cryptocurrency returns with a daily long-short Sharpe of 2.21 until the signal decays.
SSRN
- 6 Nov 20263fanfare
The Hidden Cost of Tokenization: Blockchain Adoption and Native Token Price Discovery
NFT airdrops on Ethereum raise block fees and failure rates, shifting price discovery off-chain and impeding native-token information incorporation critical for proof-of-stake security.
SSRN
- 6 Nov 20262fanfare
Is Retail Crypto Trading Better Than Gambling? Memecoins, Perpetual Futures and Prediction Markets Against Casino Odds
Memecoin traders get back 0.754 per unit staked, worse than any casino game, while perpetual futures and prediction markets match casino returns.
SSRN
- 6 Nov 20262fanfare
Forecasting Stablecoin Depegs: Out-of-Sample Evidence from 219 USD Stablecoins
A gradient-boosted classifier trained on 219 USD-pegged stablecoins predicts which coins will lose their peg within one week, achieving 0.59 average precision on test data.
SSRN
- 6 Nov 20264fanfare
Stablecoin Architecture, Digital Dollarization, and the New Triffin Dilemma
Model shows that stablecoin design cannot remove peripheral currency risk but redeploys it; a new Triffin dilemma emerges where the issuer's capital must grow with its open position.
RePEc
- 6 Nov 20262fanfare
Stablecoin-on-Creditor Violence
New U.S. legislation grants stablecoins superpriority in bankruptcy, allowing distressed issuers to subordinate existing creditors and shift losses to depositors before any filing occurs.
RePEc
- 30 Oct 20263fanfare
A Multi-Asset Dataset and Tail-Risk Framework for DeFi Yield Trading Derivatives
A large-scale Pendle dataset spanning 340 markets reveals stablecoin flight-to-quality dynamics, and a tail-risk loss function improves yield forecasting and enables profitable derivatives strategies.
arXiv
- 30 Oct 20263fanfare
The Term Structure of Implied Fee Rates in Liquidity Pools
A no-arbitrage framework recovers implied fee rates for liquidity providers in Uniswap pools, revealing time-varying and maturity-dependent compensation that varies significantly with pool design.
arXiv
- 30 Oct 20263fanfare
Do ETFs Tame Crypto Crashes? Evidence from Eight Staggered Spot ETF Launches
Analysis of eight staggered spot cryptoasset ETF launches finds that late-2025 altcoin ETFs reduced daily volatility by about eighteen percent, though crash propensity remained unchanged.
SSRN
- 30 Oct 20263fanfare
Does CoVaR understate contagion? Conformal forecasts for crypto treasury companies
Conformal prediction corrects CoVaR understatement of crypto-treasury contagion by two- to fourfold, reducing simulated distress-day loss frequency from 30% to 7%.
SSRN
- 30 Oct 20263fanfare
Are stablecoins and bank deposits substitutes?
Stablecoin growth slows roughly 3.75 percentage points per standard-deviation rise in deposit rates, with effects three times larger using instrumental variables and stronger for USDC than USDT.
RePEc
- 23 Oct 20260cites
Basis-Only Funding Is Not Dividend Fair: Settlement Design in Crypto Equity Perpetuals
Premium-index funding cannot replicate shareholder cash flows for dividend-paying assets; fairness requires discrete event credits matching dividend atoms, not continuous basis adjustment.
arXiv
- 23 Oct 20260cites
Market Efficiency in a Changing Asset Population: Mobility, Entry, and Survival over Cryptocurrency's Full History
Testing weak-form efficiency on 8,970 cryptocurrencies over thirteen years, the study finds persistent asymmetry in market ranking but reveals that neglected assets lack liquidity rather than predictability.
arXiv
- 23 Oct 20262fanfare
Hidden by complexity? Measuring stablecoin, crypto and decentralised finance ecosystems
The paper identifies three structural sources of measurement divergences in blockchain data and proposes approaches to align technical execution with economic meaning in DeFi ecosystems.
RePEc
- 16 Oct 20263fanfare
Jump Risk Premiums in Cryptocurrency Returns
Cryptocurrencies sensitive to positive market jumps earn lower returns, a negative premium unexplained by coskewness and strongest when retail sentiment is high.
SSRN
- 16 Oct 20263fanfare
Electoral Risk and Crypto Contagion: Evidence from Global Market Connectedness
Elections in major democracies raise cryptocurrency correlation, reducing portfolio diversification, with the effect driven by shifting expectations about future regulatory environments.
SSRN
- 16 Oct 20263fanfare
How Do Large, Sophisticated Cryptocurrency Trades Impact Broader DeFi Market Dynamics?
Large bitcoin trades reshape participant composition and trigger herding, raising volatility, while ethereum whales produce minimal market impact, revealing persistent information asymmetries.
RePEc
- 16 Oct 20263fanfare
Money and Power: Historical Lessons for Stablecoins and U.S. Dollar Dominance
The paper uses monetary history to identify five institutional foundations for scalable private money and assesses how contemporary stablecoins and the GENIUS Act address them.
RePEc
- 16 Oct 20262fanfare
Regime-Dependent Dependence: Cryptocurrencies and Traditional Assets Under Structural Breaks
The study proposes a multi-stage method combining neural networks and copulas to detect regime changes and finds cryptocurrency dependence with traditional assets increases sharply during crises.
RePEc
- 9 Oct 20263fanfare
Fundamentals in Cryptocurrency Valuation: Evidence from DeFi Markets
Revenue surprises on 95 DeFi protocols predict abnormal token returns, with one-standard-deviation surprises associated with 28.8 basis points higher returns over three days when tokens have direct revenue claims.
SSRN
- 9 Oct 20263fanfare
Predicting Crypto Contagion: Machine Learning Forecasts of Return Spillovers
The study forecasts time-varying return spillovers among cryptocurrencies using machine learning, finding monetary policy and funding rates drive connectedness and classifying events that shift spillover composition into contagion types.
SSRN
- 9 Oct 20263fanfare
Reassessing Bitcoin’s Role under ETF-Driven Institutionalization: A Time-Frequency Connectedness Analysis
The research shows that after U.S. Bitcoin ETF approval in January 2024, return and volatility linkages between Bitcoin and equities strengthened substantially, with volatility spillovers becoming markedly asymmetric from stocks to crypto.
SSRN
- 9 Oct 20263fanfare
Anatomy of a run: the Terra Luna Crash
Granular blockchain data reveals the Terra crash resulted from subsidized money creation, real-time transaction visibility, and investor concentration amplifying financial fragility.
RePEc
- 9 Oct 20262fanfare
Interest Rate Transmission in Decentralized Finance: Evidence from Aave Lending Protocol
The study finds that US risk-free rates predict stablecoin lending rates in decentralized finance, though transmission operates mainly through crypto-native factors like utilization.
RePEc
- 2 Oct 20260cites
Active Liquidity On Chain: Evidence from PropAMMs Across Chains
Proprietary AMMs earn 0.37 to 1.19 basis points within two seconds by repricing continuously and avoiding arbitrage, compared to passive AMMs losing 0.22 to 0.62 basis points.
arXiv
- 2 Oct 20260cites
Not All LPs Are Equal: The Active-Passive Gap in Automated Market Maker Liquidity Provision
Analysis of Uniswap pools shows passive liquidity providers underperform aggregate pool returns, with the gap wider on Ethereum than on layer-two blockchains.
arXiv
- 2 Oct 20260cites
Oracle-Parametrized Constant Function Market Makers: From Price Feeds to Pricing Rules
A framework shows when oracle-informed automated market makers reduce loss versus rebalancing and improve capital efficiency, with counterfactual backtests on SPY data.
arXiv
- 2 Oct 20263fanfare
Liquidity Capacity and Token Survival in Cryptocurrency Markets
The research shows that adjusted illiquidity—price impact scaled by market absorption capacity—predicts which cryptocurrency tokens survive better than volatility, improving out-of-sample forecasting of token death.
SSRN
- 25 Sep 20260cites
ETH-TraceBench: A Large-Scale Event-Stream Benchmark for Ethereum DeFi under Temporal, Protocol, and Contract Shift
Introduces a large-scale benchmark on 1.35 billion Ethereum transactions to evaluate DeFi representations under temporal, protocol, and contract drift, revealing model degradation on unseen pools.
arXiv
- 25 Sep 20264fanfare
Stablecoins Meet the Mundell–Fleming Trilemma
Wallet-level stablecoin data shows crisis countries experience inflows during banking restrictions; this endogenizes capital mobility and tightens monetary policy constraints.
RePEc