USDD is a stablecoin designed to maintain its value relative to the US dollar, offering stability in the volatile cryptocurrency market. It aims to combine the benefits of blockchain technology with the reliability of traditional currency values, making it attractive for those seeking less price volatility. As part of a broader cryptocurrency ecosystem, USDD provides users with seamless integration into decentralized finance applications and platforms.
more informationPax Dollar has quickly established itself as a prominent player in the stablecoin market, offering a reliable digital asset that is pegged to the US dollar. Its transparency and regular audits help build trust among users, making it a preferred choice for those seeking stability in the often volatile world of cryptocurrencies. As adoption continues to grow, Pax Dollar is poised to play a crucial role in bridging traditional finance with digital innovation.
more informationGeneral Information |
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---|---|
Title
USDD
|
Title
Pax Dollar
|
Symbol
usdd
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Symbol
usdp
|
Whitepaper
|
Whitepaper
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Website
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Website
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Community
-
|
Community
-
|
Last Updated
2025-02-01 23:56
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Last Updated
2024-11-22 23:59
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Price Data |
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Current Price $
0.997985
$
|
Current Price $
1.001
$
|
High 24h
1.004
$
|
High 24h
1.005
$
|
Low 24h
0.995262
$
|
Low 24h
0.996833
$
|
Price Change 24h
-8.1028491885515E-5
$
|
Price Change 24h
0.00132358
$
|
Price Change % 24h
-0.00812
%
|
Price Change % 24h
0.13237
%
|
Market Data |
|
Market Cap
739463564
|
Market Cap
110248258
|
Total Volume
2811215
|
Total Volume
3687927
|
Market Cap Change 24h
-2022240.8911144
|
Market Cap Change 24h
122551
|
Market Cap Change % 24h
-0.27273
%
|
Market Cap Change % 24h
0.11128
%
|
Return on Investment (ROI)
-
|
Return on Investment (ROI)
0.1273570174062
%
|
Supply and Availability |
|
Circulating Supply
739641963.48799
|
Circulating Supply
110099030.66841
|
Total Supply
739641963.48799
|
Total Supply
110099030.66841
|
Max Supply
-
|
Max Supply
-
|
Historical Data |
|
All Time High (ATH)
1.052
|
All Time High (ATH)
1.18
|
ATH Change %
-4.9522
%
|
ATH Change %
-15.51904
%
|
ATH Date
2023-10-23 22:45
|
ATH Date
2024-04-16 16:20
|
All Time Low (ATL)
0.928067
|
All Time Low (ATL)
0.863529
|
ATL Change %
7.72185
%
|
ATL Change %
15.89307
%
|
ATL Date
2022-06-19 16:15
|
ATL Date
2021-05-19 13:14
|
USDD, bearing the symbol 'usdd', has emerged as a notable player in the universe of stablecoins. Designed to maintain a near-consistent value, it has gained attention for its strategic positioning and unique mechanisms. But what makes USDD tick, and how has its journey been thus far? Let's delve into the essential characteristics and evaluate its future in the cryptocurrency market.
USDD was developed as a stablecoin, aiming to offer consistency amidst the volatile crypto landscape. Unlike traditional cryptocurrencies whose values fluctuate significantly, USDD is pegged to the US Dollar, making it a reliable choice for traders looking to hedge against market volatility. The coin operates on a decentralized model, leveraging smart contracts to maintain its peg.
Since its inception, USDD has aimed at stability with varying degrees of achievement. The coin's all-time high (ATH) was registered at $1.052, a minor surge from its usual parity with the dollar, recorded on October 23, 2023. However, it too faced rocky moments, evidenced by its all-time low (ATL) of $0.928067 on June 19, 2022. These fluctuations, common even for stablecoins, underscore the challenges in maintaining an immutable peg against market dynamics.
The primary advantage of USDD lies in its stability. As a stablecoin, USDD provides a sanctuary for traders during times of high volatility in the broader cryptocurrency market. By ensuring its value is closely tied to the US Dollar, it serves as an effective store of value for transactions and savings in the crypto realm.
Additionally, its decentralized nature fosters transparency and reduces reliance on centralized entities, aligning with the original ethos of blockchain technology.
Despite its robust framework, USDD faces challenges. Maintaining the dollar peg demands complex economic and technological maneuvers which are susceptible to systemic risks. Furthermore, stablecoins in general attract regulatory scrutiny due to their potential implications on traditional financial systems.
Another challenge is competition. With a saturated market of stablecoins such as USDT and USDC, USDD must continually innovate its technology and business model to maintain relevance.
USDD's future hinges on its ability to sustain its dollar peg effectively while navigating regulatory landscapes and technological advancements. Market trends suggest a growing appetite for stablecoins, particularly in decentralized finance (DeFi) sectors, offering USDD ample growth opportunities.
In addition, partnerships and integrations within the blockchain ecosystem could bolster its adoption and utility, providing a competitive edge. Continued innovation and transparent operations will be pivotal in cementing USDD’s place in the crypto economy.
USDD presents a fascinating case in the stablecoin space, offering both opportunities and obstacles. Its success will largely depend on its capacity to manage external challenges while leveraging its advantages to gain broader market acceptance.
Pax Dollar (USDP), a stablecoin issued by Paxos Trust Company, is designed to maintain a stable value by being pegged to the US dollar at a 1:1 ratio. Its primary objective is to provide a reliable and efficient means of transferring value in the cryptocurrency space, making it an essential tool for traders and investors alike. In this article, we will explore the historical performance of USDP, its advantages and disadvantages, and its potential future in the ever-evolving world of cryptocurrencies.
Pax Dollar was launched in 2018 as Paxos Standard Token, and it was later rebranded to USDP. Since its inception, USDP has shown significant stability compared to several other cryptocurrencies, often trading close to its pegged value of $1. This makes it an attractive option for investors looking to hedge against the inherent volatility of the cryptocurrency market.
The coin reached its all-time high (ATH) of $1.18 on April 16, 2024, which underscores its capacity to maintain its peg, even during periods of market fluctuations. Conversely, the all-time low (ATL) was recorded at $0.8635, highlighting that even stablecoins are not immune to market disparities. Despite these fluctuations, USDP has successfully maintained this peg over time, enhancing its credibility as a stablecoin.
1. **Stability**: As a stablecoin, USDP is designed to minimize price volatility, making it a safe harbor for traders during turbulent market periods.
2. **Regulatory Compliance**: Paxos is regulated by the New York State Department of Financial Services, which adds an additional layer of trust and reliability for users.
3. **Transparency**: Paxos undergoes regular audits, ensuring that each USDP is backed by a corresponding US dollar, promoting confidence among users.
4. **Liquidity**: USDP is available on various major exchanges, providing users with ample opportunities for trading and liquidity.
1. **Centralization**: Unlike many cryptocurrencies, which are decentralized, USDP relies on a centralized authority (Paxos) for its issuance and management, raising concerns about control and governance.
2. **Regulatory Risks**: As regulations surrounding cryptocurrencies continue to evolve, there is a possibility that regulatory changes could impact the operations of USDP and Paxos.
3. **Market Dependency**: Although USDP is stable against the US dollar, its value can still be affected by broader market conditions and the performance of stablecoins as a category.
The future of Pax Dollar looks promising, particularly as the demand for stablecoins continues to grow within the cryptocurrency ecosystem. The increasing integration of stablecoins into various financial systems, including DeFi applications and payment solutions, establishes USDP as a relevant player in the market.
Moreover, as more institutional players enter the cryptocurrency space, the need for reliable and stable assets like USDP is likely to increase, which could lead to enhanced adoption and greater utilization of the coin.
However, the regulatory landscape will play a crucial role in shaping the future of USDP. If Paxos continues to successfully navigate the evolving regulations, it could solidify its position as a leading stablecoin in the industry.
Pax Dollar offers a unique blend of stability, transparency, and regulatory compliance, making it an attractive option for investors seeking a secure means of transferring value within the cryptocurrency market. While there are challenges on the horizon, such as centralization and the regulatory landscape, the overall future outlook for USDP appears positive, given the increasing demand for stable assets in the digital economy.