Study finds partnership announcements and listings have the strongest impact on cryptocurrency prices

News of cryptocurrency listings on exchanges and the signing of partnership agreements has the greatest impact on asset prices, but this effect is short-lived and unstable. This is stated in a joint отчете by the eToro platform and the data aggregator The TIE.

Results showed that news related to financing, mergers and acquisitions are priced in over a longer horizon and can have both positive and negative effects on prices. Experts attribute this to the private nature of information, which keeps investors interested in these events longer.

In only about half of cases did an announcement of a mainnet launch lead to a positive re-rating of the asset. Analysts say this reflects that most traders prepare for such a development in advance.

News of 51% attacks, in four out of five cases, leads to losses averaging 3%.

Prices are also influenced by the information source. For example, regulatory information had the strongest impact when distributed by an official source. Airdrop information — when published on Twitter.

“Contrary to the view that cryptocurrencies are unpredictable and prone to manipulation, the study showed that the reaction of digital assets, at least in the short term, is not different from the reaction typical of stocks,” said Joshua Fren, head of The TIE, in a comment to CryptoBriefing.

For analysis, researchers used the Crypto SigDev trading terminal. It allows leading media outlets, hedge funds, exchanges, token issuers, research firms and market participants to track the most important events in the cryptocurrency space.

Earlier, ForkLog published an updated list of analytical services for obtaining a comprehensive view of the cryptocurrency market.

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