According to PANews, Uniswap Labs has released a research paper co-authored by researchers from Copenhagen Business School and Circle. The study, titled 'Factors Driving Cryptocurrency Prices,' reveals that cryptocurrency prices are significantly influenced by conventional risk and monetary policy factors. Notably, during the cryptocurrency market downturn in 2022, over two-thirds of the decline was attributed to tight monetary policy measures. In contrast, since the beginning of 2023, the compression of crypto risk premiums has been the primary driver of cryptocurrency returns, independent of the active stock market environment.