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    USDP Stablecoin

    USDP

    Rank #2376

    $0.8681

    +0.010%
    24H Low$0.8681
    $0.868124H High
    24H Volume
    $37.33
    All-Time High(ATH)
    $1.41
    All-Time Low(ATL)
    $0.6997
    Market Cap
    $2.28 M
    Fully Diluted Valuation
    $2.28 M
    Market Cap/FDV
    100.05%
    Circulating Supply
    2.63 M USDP
    Total Supply
    2.63 M USDP
    Max Supply
    2.63 M USDP
    Market Sentiment
    Positive
    * Data from 3rd parties

    USDP Stablecoin (USDP) Price Trends

    Time period
    Change amount
    % Change
    1H
    $--
    -0.014%
    24H
    $--
    +0.010%
    7D
    $--
    +0.022%
    30D
    $--
    +0.054%
    1Y
    $-0.1000
    -9.9%

    Credibility Indicators

    66.02

    Reliability Score

    Rank #1

    # 2720

    Percentile

    TOP 20%

    Live USDP Stablecoin (USDP) Price Update

    USDP Stablecoin price today is $0.8681 with a 24-hour trading volume of $37.33, and as such USDP Stablecoin has a market cap of $2.28 M, giving it a market dominance of 7.86%. The USDP Stablecoin price moved 0.01000% in the last 24 hours.

    USDP Stablecoin reached its highest price on 2022-06-10 when it was trading at its all-time high of $1.41, while its lowest price was recorded on 2022-04-13 when it was trading at its all-time low of $0.6997. The current lowest price since the last cycle high was $0.6997, and the highest price since the last cycle low was $1.41. The social sentiment of USDP Stablecoin is currently Positive.

    The current circulating supply of USDP Stablecoin is $2.63 M USDP. In terms of market cap, USDP Stablecoin is currently ranked 2376.

    About USDP Stablecoin (USDP)

    Pax Dollar USDP is a digital asset created by Paxos Financial Technology Company and pegged with 1 USDP:1 USD dollars. Its predecessor is Paxos Standard (PAX), and it is also the first regulated stablecoin in the world. Its name change is to make it easier for people to understand the dollar support of the project. This round of change took effect on August 31, 2021, and continues to provide compliant virtual assets and virtual commodity custody services under the supervision of the local banking law.

    To some extent, the strict supervision makes the USDP reserves held in the form of cash and cash equivalents more credible, and further ensures that investors' funds are always safe and can be used for redemption. As early as February 2022, (according to the statistics of CoinGecko), the market value of USDP has exceeded $1billion, and has a relatively stable circulation position in the stablecoin field.


    How does Pax Dollar USDP Work?

    On September 10, 2018, the New York Department of Financial Services (NYDFS) simultaneously approved two stablecoins based on Ethereum, namely Gemini Dollar and Paxos Standard. Both stablecoins are cryptocurrencies pegged with the US dollar at a ratio of 1:1. After the latter was renamed Pax Dollar(USDP), the monthly audit is still continuing. If Paxos, its issuing company, has problems, the U.S. government can freeze it through law enforcement.

    USDP is built based on the ERC-20 standard of Ethereum, so it mainly runs on the Ethereum network. Paxos believes that using digital substitutes such as USDP for cash can enable investors to focus more on the development of core businesses. The team intends to redefine the financial infrastructure for the operation of USDP in the digital market, and provide blockchain solutions for tokenization, custody, trading and settlement of assets, so as to innovate, develop and serve more people.


    What is USDP?

    USDP is the first compliant stablecoin in the world. 1USDP is equal to $1 and is issued in the crypto market. USDP stablecoin combines the stability of US dollars with the efficiency of blockchain technology. Presently, more than 100 exchanges and platforms have been launched. In addition to investment and holding, institutional users will also be used for securities and commodity settlement based on blockchain. USDP can be used to store or transfer US dollars instantly without being restricted by traditional banking business. Moreover, USDP's stablecoin platform supports API, which will become easier and more convenient when using corresponding technology integration.

    While the U.S. government audits its operation and pegging, Withum, the top audit company hired by Paxos Trust Company , will also conduct independent validation at the characteristic time, including whether the full supply of USDP tokens is consistent with the U.S. dollars in the U.S. bank reserve account held and managed by Paxos. This asset value was consistent with the results of the audit report (https://paxos.com/attestations/) dated April 29, 2022, which was $1,012,606,434.20.

    In order to provide users with more access to compliance assets, Gate.io has started the compliance stablecoin portfolio USD, and all currencies including USDP are recorded in USD [USDC, TUSD, PAX (i.e. USDP), BUSD, HUSD]. When withdrawing USD, the user can directly select USDP without re conversion.


    USDP Crypto Wallet

    In addition to placing USDP in the Gate.io exchange to facilitate trading, USDP can also be placed in the crypto wallet.

    FAQs

    1. What determines the price movement of USDP Stablecoin?

    There are two schools of thought in determining the price of USDP Stablecoin.
    By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of USDP Stablecoin, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of USDP Stablecoin from a long term perspective.
    By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of USDP Stablecoin on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for USDP Stablecoin as well.
    Investors tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for USDP Stablecoin and the cryptocurrency market as a whole.

    USDP Stablecoin Tokenomics

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    USDP Stablecoin Analysis

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