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Pax Dollar

Pax Dollar priceUSDP

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Pax Dollar price calculator

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USDP
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1 USDP = 1 USD
Last updated 2024-04-23 12:15:15(UTC-0)

Pax Dollar price live data summary

The live price of Pax Dollar is $1 per (USDP / USD) today with a current market cap of $139.05M USD. The 24-hour trading volume is $2.54M USD. USDP to USD price is updated in real time. Pax Dollar is +0.04% in the last 24 hours. It has a circulating supply of 138,777,740 .

What is the highest price of USDP?

USDP has an all-time high (ATH) of $2.02, recorded on 2021-11-16.

What is the lowest price of USDP?

USDP has an all-time low (ATL) of $0.8728, recorded on 2020-03-13.

Pax Dollar price performance in USD

24h7d30d90d1yAll-time
+0.04%+0.01%+0.19%+1.04%+0.44%+0.19%

Pax Dollar price history in USD

TimeLowHigh
24h$1$1.01
7d$0.9973$1.44
30d$0.9966$1.44
90d$0.9912$1.44
1y$0.9644$1.44
All-time$0.8728(2020-03-13, 4 years ago )$2.02(2021-11-16, 2 years ago )

Pax Dollar market information

Market cap
$139,046,181.34
+0.04%
Fully diluted market cap
$139,046,181.34
+0.04%
Volume (24h)
$2,535,731.68
+74.12%
Market rankings
Circulation rate
+99.00%
24h volume / market cap
0.0182
Circulating supply
138,777,740 USDP
Total supply / Max supply
138,777,747.27 USDP
-- USDP

Pax Dollar ratings

Average ratings from the community
4.6
100 ratings
This content is for informational purposes only.

Pax Dollar Social Data

In the last 24 hours, the social media sentiment score for Pax Dollar was 5, and the social media sentiment towards Pax Dollar price trend was Bullish. The overall Pax Dollar social media score was 1,710, which ranks 752 among all cryptocurrencies.

According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,626,636 times, with Pax Dollar being mentioned with a frequency ratio of 0%, ranking 544 among all cryptocurrencies.

In the last 24 hours, there were a total of 148 unique users discussing Pax Dollar, with a total of Pax Dollar mentions of 42. However, compared to the previous 24-hour period, the number of unique users decrease by 12%, and the total number of mentions has increase by 11%.

On Twitter, there were a total of 2 tweets mentioning Pax Dollar in the last 24 hours. Among them, 100% are bullish on Pax Dollar, 0% are bearish on Pax Dollar, and 0% are neutral on Pax Dollar.

On Reddit, there were 1 posts mentioning Pax Dollar in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 0% . Additionally, there were 0 comments mentioning Pax Dollar. Compared to the previous 24-hour period, the number of mentions decrease by 0%.

Visão geral das redes sociais

Average sentiment(24h)
5
Social score(24h)
1.71K(#752)
Social contributors(24h)
148
-12%
Social mentions(24h)
42(#544)
+11%
Social dominance(24h)
0%
Twitter
Tweets(24h)
2
0%
Twitter sentiment(24h)
Bullish
100%
Neutral
0%
Bearish
0%
Reddit
Reddit score(24h)
0
Reddit posts(24h)
1
0%
Reddit comments(24h)
0
0%

About Pax Dollar(USDP)

What Is Pax Dollar?

Pax Dollar (USDP) is a fully backed stablecoin that is an integral part of the Paxos ecosystem. Launched in 2018, it was initially known as Paxos Standard (PAX) before undergoing a rebranding in 2021. As a stablecoin, Pax Dollar is collateralized 1:1 by US dollars, ensuring stability in the cryptocurrency market known for its volatility.

The genesis of Pax Dollar can be traced back to the Paxos Trust Company, LLC, which was previously recognized as the itBit Bitcoin exchange before its rebranding in 2015. The choice of the name "Paxos" is steeped in history, drawing inspiration from the Ionian island of Paxos, which was renowned for its unique consensus system during ancient times.

Resources

Official Whitepaper: https://insights.paxos.com/hubfs/USDP-White-Paper.pdf

Official Website: https://paxos.com/usdp/

How Does Pax Dollar Work?

The foundational principle of Pax Dollar is its unwavering commitment to maintaining a 1:1 peg with the US dollar. This commitment is not merely verbal; the USDP coin is stringently regulated and is 100% backed by tangible cash reserves. These reserves are securely held in insured depository institutions located within the United States, ensuring the coin's stability and trustworthiness.

The mechanics of the Pax Dollar involve the use of an Ethereum smart contract to automate the minting and burning processes. When users deposit USD into their Paxos accounts, an equivalent amount of USDP is minted and subsequently transferred to the user's account. On the flip side, when users wish to convert their USDP back to USD, the tokens undergo an instantaneous burning process. This ensures that the number of tokens in circulation always mirrors the USD reserves, upholding the coin's stability.

Pax Dollar's Impact on Finance

Pax Dollar is not just another stablecoin; it embodies a vision of a more inclusive and open digital economy. This vision transcends the mere mitigation of market risks. Paxos aspires to create a world where blockchain">blockchain technology is not just a driving force but an integral part of a financial revolution. By acting as a bridge between the digital and traditional realms of assets, Pax Dollar is at the forefront of this transformative journey.

Its status as a regulated entity offers an unparalleled level of assurance to its users. The New York State Department of Financial Services (NYDFS) granted Paxos Trust Company a trust charter for digital assets even before the stablecoin's launch. With the backing of US banks insured by the Federal Deposit Insurance Corporation (FDIC), Pax Dollar stands out as a beacon of trust and reliability in the stablecoin market.

What Determines Pax Dollar's Price

In the ever-evolving world of cryptocurrencies, the Pax Dollar (USDP) stands out as a stable and reliable beacon, offering users a secure method for transacting value on the blockchain. As a stablecoin minted by the reputed financial technology company Paxos, USDP has carved out a significant niche in the digital asset ecosystem, boasting a market capitalization that exceeds $500 million as of September 2023.

Today, the price of Pax Dollar is maintained at a 1:1 ratio with the U.S. dollar, a feature that has been instrumental in its rising global adoption. This stability in the cryptocurrency price of USDP is assured through a stringent collateralization process where each USDP token issued is backed by an equivalent amount of U.S. dollars held in reserve, a detail that is clearly reflected in its price chart.

Analysis of the USDP price indicates a transparent and regulated operation. Paxos operates under the stringent oversight of the New York State Department of Financial Services (NYDFS), fostering financial stability, consumer protection, and adherence to anti-money laundering protocols. This enhances the trust and reliability associated with USDP as a crypto asset. Furthermore, the daily attestation reports released by Paxos, which are verified by third-party auditors, offer a clear window into the market cap of Pax Dollar USDP and the reserves backing it, fostering transparency and security in the live price data.

In the broader cryptocurrency landscape, historical data of Pax Dollar USDP showcases its versatility and utility, especially in decentralized finance (DeFi) applications. From facilitating seamless crypto trading to enabling cross-border payments without the traditional banking hassles, USDP is revolutionizing financial transactions. Its role as a stable medium for merchant payments and as a reliable store of value, akin to fiat currencies, is evident in its historical prices. Moreover, platforms like Curve, Balancer, Uniswap, and Sushiswap have integrated USDP, allowing users to engage in various financial strategies, including liquidity provision and yield farming, thereby enhancing the trading volume of USDP.

As you consider how to buy Pax Dollar USDP, it's important to note that while it may not be an investment avenue for value appreciation due to its stable value design, it serves as a potent tool for hedging against the volatility prevalent in the cryptocurrency space. The forecast for Pax Dollar USDP looks promising, with its regulated and audited operations offering a secure and transparent medium for transactions, potentially driving its ascent in the list of stablecoins with the largest market caps. Stay informed with the latest updates and news on Pax Dollar to make knowledgeable decisions, whether you are looking to buy USDP or engage in USD to USDP conversion.

Trade USDP perpetual futures

After having successfully signed up on Bitget and purchased USDT or USDP tokens, you can start trading derivatives, including USDP futures and margin trading to increase your income.

The current price of USDP is $1, with a 24h price change of +0.04%. Traders can profit by either going long or short onUSDP futures.

Join USDP copy trading by following elite traders.

After signing up on Bitget and successfully buying USDT or USDP tokens, you can also start copy trading by following elite traders.

Pax Dollar news

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People are also inquiring about the price of Pax Dollar.

What is the current price of Pax Dollar?

We update our Pax Dollar to USD price in real time. Get the live Price of Pax Dollar on Bitget.

What is the 24 hour trading volume of Pax Dollar?

Over the last 24 hours, the trading volume of Pax Dollar is $2.54M.

What is the all-time high of Pax Dollar?

The all-time high of Pax Dollar is $2.02. This all-time high is highest price for Pax Dollar since it was launched.

Can I buy Pax Dollar on Bitget?

Yes, Pax Dollar is currently available on Bitget’s centralized exchange. For more detailed instructions, check out our helpful How to buy guide.

Can I get a steady income from investing in Pax Dollar?

Of course, Bitget provides a strategic trading platform, with intelligent trading bots to automate your trades and earn profits.

Where can I buy Pax Dollar with the lowest fee?

We're pleased to announce that strategic trading platform is now available on the Bitget exchange. Bitget offers industry-leading trading fees and depth to ensure profitable investments for traders.

USDP Stablecoin có phải là khoản đầu tư tốt không?

USDP Stablecoin là khoản đầu tư tiền điện tử đáng tin cậy, đặc biệt là trong những giai đoạn thị trường biến động hoặc giảm giá. Hãy chuyển đổi các loại tiền điện tử khác sang USDP để an toàn trước những đợt giảm giá mạnh mà không cần rời bỏ thị trường. Được neo với USD, Pax Dollar là lựa chọn lý tưởng cho các giao dịch số và thanh toán trực tuyến. Họ vượt qua các phương thức ngân hàng truyền thống, đặc biệt là chuyển khoản quốc tế. USDP Stablecoin đảm bảo việc chuyển tiền diễn ra nhanh hơn, tiết kiệm chi phí và an toàn hơn thông qua blockchain. Không giống như các hệ thống tập trung do bên trung gian chỉ đạo vận hành một cách chậm chạp, các giao dịch phi tập trung của USDP trên blockchain Ethereum (dưới dạng token ERC-20) rất hiệu quả và nhanh chóng.

USDP được sử dụng vào mục đích gì?

USDP Stablecoin mang đến nhiều lợi thế: Sử dụng tiền số: Tương đương với đồng USD, USDP hỗ trợ mua sắm trực tuyến và thanh toán số. Đây là phương thức hiệu quả, an toàn và tiết kiệm chi phí. Bảo vệ chống lại biến động thị trường: Trong thời gian thị trường tiền điện tử chịu nhiều bất ổn, việc chuyển đổi tài sản sang USDP sẽ bảo vệ bạn khỏi thua lỗ. Được hỗ trợ 1:1 bằng đồng USD, đây là một lựa chọn ổn định ngay cả trong thời kỳ suy thoái, cho phép người dùng duy trì sự hiện diện trên thị trường mà không gặp rủi ro. Cơ sở giao dịch tiền điện tử: Sử dụng USDP làm tiền tệ nền tảng trong giao dịch tiền điện tử. Chuyển đổi từ USDP sang các loại tiền điện tử khác để quản lý danh mục đầu tư đa dạng. Trước khi giao dịch, bạn cần đánh giá mức giá theo thời gian thực, vốn hóa thị trường, nguồn cung và khối lượng 24 giờ của USDP. Cơ hội thu nhập thụ động: Tích lũy USDP trên các nền tảng đưa ra mức lãi suất hấp dẫn, biến đây trở thành nguồn thu nhập thụ động không rủi ro.

Paxos duy trì ổn định giá cho USDP bằng cách nào?

Paxos đảm bảo giá USDP duy trì ở mức 1 USD bằng cách hỗ trợ hoàn toàn bằng dự trữ USD thông qua Công ty Paxos Trust. Các khoản dự trữ này bao gồm tiền mặt và các tài sản giống tiền mặt, cho phép đổi USDP lấy USD bất cứ lúc nào. Bằng cách lưu trữ tiền của người dùng bằng tiền mặt và các tài sản tương tự, Paxos đảm bảo sự an toàn hoàn toàn và khả năng sẵn sàng tiếp cận cho những ai muốn chuyển đổi lại token USDP của họ. Công ty cũng điều chỉnh nguồn cung USDP phù hợp với lượng dự trữ USD để luôn duy trì giá USDP Stablecoin ở mức 1 USD.

Cách nhận USDP

Bạn có thể kiếm USDP thông qua nhiều phương tiện khác nhau, bao gồm: Chuyển đổi USD sang USDP: Truy cập các sàn giao dịch tiền điện tử như Bitget hoặc đăng ký với Paxos để hoán đổi USD hoặc Fiat khác lấy token USDP. Giao dịch USDP với tiền điện tử: Trên các nền tảng như Bitget, bạn có thể trao đổi các loại tiền điện tử khác nhau lấy USDP. Tùy thuộc vào động lực của thị trường mà bán tài sản tiền điện tử của bạn để thu về USDP. Giao dịch thành công có thể mang lại lợi nhuận, cho phép bạn tích lũy thêm USDP. Stake hoặc cho vay USDP: Stake hoặc cho vay USDP của bạn trên các nền tảng mang lại lợi suất hàng năm hấp dẫn. Bạn cần nghiên cứu trực tuyến để xác định nền tảng đáng tin cậy nào hỗ trợ các chức năng này và hứa hẹn lợi nhuận tối ưu, từ đó nâng cấp bộ sưu tập USDP của bạn.

Stablecoin USDP có an toàn không?

USDP được hỗ trợ đầy đủ và được bảo vệ về mặt pháp lý. Stablecoin USDP do Paxos phát hành phải chịu sự giám sát nghiêm ngặt theo quy định của Bộ Dịch vụ Tài chính Tiểu bang New York và đáp ứng các tiêu chuẩn cao nhất về bảo vệ người tiêu dùng.

USDP có phải là token ERC-20 không?

Pax Dollar (USDP) là token ERC20 được Paxos đúc và burn tập trung, đại diện cho một bên đáng tin cậy hỗ trợ token bằng USD.
Cryptocurrency investments, including buying Pax Dollar online via Bitget, are subject to market risk. Bitget provides easy and convenient ways for you to buy Pax Dollar, and we try our best to fully inform our users about each cryptocurrency we offer on the exchange. However, we are not responsible for the results that may arise from your Pax Dollar purchase. This page and any information included are not an endorsement of any particular cryptocurrency.

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