Array Paxos Standard Price Today | Live USDP Price Chart and Market Cap | CoinGape
Paxos Standard

Paxos Standard (USDP) Price Today

USDP
$1.0000421099100
0% (24 Hour)
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Paxos Standard Prices and Marketcap Comparison

Name Price 24 hr Market Cap Circulating Supply
Paxos Standard Paxos Standard $1.00004211 0% $60,767,120 60,764,561

Paxos Standard (USDP) Price Statistics

  • Market Price

    $1.00004211

  • Price Change 1H
    0.06%
  • Price Change 24H
    0%
  • Price Change 7 Days
    0.11%
  • Price Change 30 Days
    -0.02%
  • Market Cap

    $60,767,120

  • 24H Volume

    $2,607,202

  • All Time High

    $1.2144693160

  • Total Supply

    71,373,898

  • Circulating Supply

    60,764,561

  • Max Supply

    NA

  • 24H High

    1

  • 24H Low

    0.9994550000

  • 7 Days High

    1

  • 7 Days Low

    0.9998750000

  • 30 Days High

    1

  • 30 Days Low

    0.9997170000

  • 90 Days High

    1

  • 90 Days Low

    0.9989680000

Paxos Standard (USDP) Price is Down Today

Live Price of Paxos Standard (USDP) is $ 1.00004211 Today, with cryptocurrency’s 24-hour trading volume being $2,607,202. The coin has Surge 0% in the past 24 hours and Paxos Standard (USDP) is currently trading between $1.00230102149 and $0.998236552506. Paxos Standard (USDP)’s live market cap stands at $60,767,120.

Paxos Standard (USDP)’s rank on Coingape Crypto Price Page: #556

Paxos Standard (USDP) Circulation Supply: 60,764,561

Paxos Standard (USDP) Maximum Supply: NA

USDP Price History

Date Open High Low Close Volume
27 Oct 25$0.9995559405529$1.00$0.9982365525061$0.99993453694982531392
26 Oct 25$1.00$1.00$0.9978839894015$1.002539941
25 Oct 25$1.00$1.00$0.9988345040265$1.002280956
24 Oct 25$0.9999933854809$1.00$0.9985939323470$1.002590098
23 Oct 25$0.9998817332000$1.00$0.9982126717902$0.99915804810792304133
22 Oct 25$1.00$1.00$0.9982500677307$0.99938672792244300196
21 Oct 25$1.00$1.00$0.9983829390408$1.003100237
20 Oct 25$1.00$1.00$0.9986178979255$1.005032592
19 Oct 25$1.00$1.00$0.9990445649481$1.006057026

Global Paxos Standard Prices

1 USDP to CNY

¥

7.12140105423

1 USDP to EUR

0.859836314205

1 USDP to GBP

£

0.750801726062

1 USDP to INR

87.844716312

1 USDP to JPY

¥

153.064463988

1 USDP to USD

$

1.00004210991

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More on Paxos Standard (USDP)

What is the trading volume of Paxos Standard (USDP) in the past 24 hours ?

Paxos Standard (USDP) is currently trading at $1.00004210991 today, with a 24-hour trading volume of $2,607,202. The trading volume of Paxos Standard (USDP) in the past 24 hours provides insight into the total amount of a cryptocurrency traded on exchanges within 24 hours. It indicates market activity and liquidity.

What is the all-time high for Paxos Standard (USDP) ?

The highest transaction price for Paxos Standard (USDP) is $1.2144693160, which was recorded on 2024-04-16. Paxos Standard (USDP) is down -17.65% from its all-time high.

What is the Total supply of the Paxos Standard (USDP) ?

The total supply of Paxos Standard (USDP) stands at 71,373,898. However, Paxos Standard (USDP)'s current circulation supply stands at 60,764,561.

How is the Paxos Standard (USDP) doing against the crypto market?

Historically, Paxos Standard (USDP)'s price has dictated the movements in the crypto market. However, in the past 24 hours, Paxos Standard (USDP) is down by 0% .

What is Pax Dollar?

Pax Dollar (USDP) is a stablecoin backed by New-York based blockchain company, stablecoin issuer, and decentralized finance (DeFi) developer, Paxos. USDP allows users to store and send US dollars quickly and cheaply. This can be done by anyone using a simple mobile phone and does not require a bank account.

Paxos itself is regulated by the New York State Department of Financial Services and has been audited by Withium on a monthly basis.  The audit makes sure that its supply matches its reserve account comprised of US dollar and debt instruments. Each USDP token is backed with $1 on a 1:1 basis.

As a fully regulated blockchain ecosystem, Paxos functions like an umbrella platform which hosts both Pax Dollar and Pax Gold tokens. The main aim of this project is to ensure seamless global payments that minimise risks associated with market exposure.

Pax Dollar Price Trends

Since it’s a stablecoin which is backed by the US dollar on a 1:1 basis, Pax Dollar, theoretically, should not deviate from $1. However, Paxos Dollar’s price increased to a high of $1.52 in May 2021. This was a result of the rumours surrounding PayPal’s release of its own stablecoin with several partners including Paxos.

USDP’s price has increased and decreased on several occasions since then. USDP price (USD) was $1.01 in September 2021 after going down to 99 cents in October 2021. At the time of writing, the price of Paxos Dollar is $0.9967, which represents a change of -0.07% this year.

How does Paxos Dollar Work?

The USDP stablecoin runs on the Ethereum blockchain using the ERC-20 token standard. As a result, the USDP price benefits from any upgrades that Ethereum puts out. Paxos Dollar allows anyone, anywhere to send and receive U.S. dollar bed assets in a better fashion than traditional financial sector instruments. It also charges less fees for buying, selling and trading USDP.

With Pax Dollar, users can seamlessly transfer assets across borders with absolutely zero discriminatory requirements, almost instantly. By leveraging blockchain technology, Paxos helps people break free from the shackles of financial bondage.

To start using the Pax Dollar, the first thing that the user has to do is exchange USD for USDP. They need to deposit USD into a Paxos account, whether for transactional or investment purposes. Paxos then uses its smart contract to generate the equivalent amount of USDP and sends it to the user’s account.

The process of converting USDP to USD is the same and just as simple. The only difference is that PAX coins are instantly burnt and removed from circulation. The minimum conversion amount is 100 USD without any fees charged. Paxos stores all the stablecoin cash equivalents and reserves in regulated accounts. They can be redeemed for U.S. dollars at any time.

Pax Dollar is inherently more secure than other stablecoins as Paxos is a regulated trust. This means that transactions are quick, secure and come with no risk. Paxos has legal permission to transfer assets using blockchain technology. It also has the permission to conduct additional transaction monitoring and use surveillance partners to increase compliance.

Paxos also follows OpenZepellin’s Pausable contract module. This helps in minimizing risk by using tested libraries of Ethereum smart contracts. The Paxos platform can pause USDP approvals or transfers if it detects a security threat.

Pax Dollar Key Events

The following are some of the key events that occurred since Pax Dollar came into existence.

  • Paxos Trust Company was founded in 2012 by Charles Cascarilla and Rich Teo.
  • Paxos Trust Company raised $3.3 million on November 11th, 2013 during the initial seed round.
  • Paxos received licensure from the New York State Department of Financial Services in May 2015.
  • In September 2018, Paxos launched Pax Dollar. Its technology has pegged it with the U.S. dollar in accounts held at depository institutions.
  • Paxos rebranded Pax Dollar to the USDP stablecoin in August 2021.
  • USDP price reached its all-time high price of $1.745520 on October 1st, 2022.
  • Pax Dollar value reached an all-time low of $0.6014 on December 11th, 2022.

Paxos Dollar Mining

As a stablecoin, Pax Dollar does not support mining as Bitcoin or Ethereum does. After the staking equivalent amount of USD onto Paxos, the coins exist.

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Paxos Standard (USDP) Frequently Asked Questions (FAQs)

1. How to Buy Pax Dollar?

Pax Dollar is available in many active exchanges including Kucoin, Binance, VCC Exchange, Digifinex, Bithumb Global, HitBTC and Uniswap just to name a few. Pax Dollar trading pairs with the highest volumes are PAX/USD (on Coinbase), and USDP/USDT (on KuCoin).

2. Who Accepts Pax Dollar?

Some of the companies that accept Pax Dollar include:

  • CryptoSlots
  • SporeStore
  • Sated
  • Chipotle Mexican Grill
  • Viabestbuys.com

3. What is the current circulation of Pax Dollar?

The current circulating supply for Pax Dollar is 878,084,065 USDP.