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All Journal Journal of International Conference Proceedings Indonesian Journal of Dedication and Educations
Rusandry Rusandry
Khairun University
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Environmental Science Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Social Sciences

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The effect of Stablecoin on the Jakarta Composite Index (JCI) Thaifur K. Umar; Johan Fahri; Rusandry Rusandry
Journal of International Conference Proceedings Vol 8, No 5 (2025): ICEBAT Manado 2025
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/jicp.v8i5.4315

Abstract

This study investigates the effect of stablecoins, particularly Tether (USDT), on the Indonesian capital market represented by the Jakarta Composite Index (JCI). Rooted in blockchain technology evolution and the growing effect of crypto-asset on global markets, this research seeks to examine whether the relatively stable characteristics of stablecoins produce different impacts compared to volatile crypto-asset such Bitcoin (BTC). Using monthly time-series data from October 2018 to October 2024 and applying multiple linear regression analysis, the findings reveal that Stablecoin Price has a negative and significant effect on the JCI, whereas Stablecoin Volume exhibits insignificant effect. This implies that a decrease in stablecoin prices corresponds with an increase in stock index performance, indicating investors’ preference to shift from crypto-assets to equities when stablecoin prices fall. The absence of volume effects further suggests that investors do not perceive stablecoin trading activity as an investment signal due to its low volatility and value stabilization mechanisms pegged to the USD. The study contributes theoretically to the literature on digital asset integration into traditional financial systems and provides practical insights for policymakers and investors in designing regulatory frameworks and diversification strategies in the Indonesian financial market. Keywords: Stablecoin; Tether (USDT); Bitcoin (BTC); Jakarta Composite Index (JCI); Crypto-asset; Blockchain Technology; Capital Market; Portfolio Diversification; Indonesia
PENDAMPINGAN OLIMPIADE SAINS NASIONAL BIDANG EKONOMI BERBASIS PARTICIPATORY TRAINING AND MENTORING DI SMA NEGERI Firman Rato Risky; Hijrasil; Agatha Christy Situru; Rusandry Rusandry; Syahrial Maulana Maulana; Mahardika Catur Putri Wana; Zandy Pratama Zain
Indonesian Journal of Dedication and Educations Vol. 5 No. 1 (2026): Indonesian Journal of Dedication and Education
Publisher : Universitas Bangka Belitung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33019/aamgz437

Abstract

The National Science Olympiad (OSN) in Economics is a platform for developing academic competence that demands critical thinking, analytical, and problem-solving skills. However, some students still struggle to grasp the nature of the subject matter and the specific types of questions featured in the competition. This community service initiative aims to enhance the academic competence and preparedness of students from SMA Negeri 1 Ternate City for the Economics OSN using a Participatory Training and Mentoring (PTM) approach. The program was conducted over three months across 12 sessions, comprising conceptual reinforcement, discussions, case study analyses, practice questions based on Higher Order Thinking Skills (HOTS), competition simulations, and evaluations. The results indicate improvements in the participants' understanding of the material, analytical problem-solving abilities, active learning engagement, and self-confidence. The PTM approach fostered active student involvement through collaborative and problem-solving-based learning. Consequently, the program effectively enhanced the participants' readiness for the Economics OSN and holds potential as a mentoring model applicable to other schools.
Co-Authors Agatha Christy Situru Firman Rato Risky Hijrasil Johan Fahri Mahardika Catur Putri Wana Syahrial Maulana Maulana Thaifur K. Umar Zandy Pratama Zain