About Paxos Standard
The Paxos Standard Token is a stablecoin running on Ethereum. For stablecoins like PAX, the company behind the protocol is responsible for holding reserves that fully back each token. The company behind PAX, Paxos Trust Company, claims to hold reserves that fully back each PAX.
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Market Stats
Market Cap
CA$99.43M
0.01%
FDV
CA$99.43M
Circ. Supply
73M PAX
Max Supply
Not enough data
Total Supply
73M PAX
Diluted Valuation
CA$99.47M
Performance
Popularity
#417
Dominance
0%
Volume (24H)
CA$838.02K
-71.52%
Volume (7D)
CA$44.18M
Volume (30D)
CA$188.61M
All time high
CA$933.37
Price Change (1Y)
-0.13%
Additional info about Paxos Standard
Recent trends
The latest PAX price is CA$1.36. Compared to Paxos Standard's value of CA$1.36 from 24 hours ago, there's been a 0% increase, while the current price is -0% down from CA$1.37 which was recorded one week ago. Paxos Standard's all time high is CA$933.37, which was reached on April 16, 2024. This is a -100% change from its price today.
The market cap is currently CA$99.43M, which is a result of multiplying the current price of Paxos Standard(CA$1.36) by the total supply(73,223,449 PAX). The fully diluted valuation of Paxos Standard is CA$99.43M. The diluted valuation of Paxos Standard is CA$99.43M.
Market details
PAX vs markets
↘ 28.44%
PAX vs BTC
↘ 37.05%
PAX vs ETH
↗ 41.92%
Tags
store-of-value
stablecoin
asset-backed-stablecoin
usd-stablecoin
+2
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0x8E870D67F660D95d5be530380D0eC0bd388289E1 | |
BNB Smart Chain | 0xb7F8Cd00C5A06c0537E2aBfF0b58033d02e5E094 |
Price history
Time | Price | Change |
|---|---|---|
Today | CA$1.36 | ↗ 0.01% |
1 Day | CA$1.36 | ↗ 0.01% |
1 Week | CA$1.37 | ↘ 0.44% |
1 Month | CA$1.40 | ↘ 0.31% |
1 Year | CA$1.37 | ↘ 0.13% |
FAQ
Pax Dollar (USDP) is a stablecoin, a type of cryptocurrency designed to minimize price volatility. Launched in 2018 by Paxos, a regulated financial institution, Pax Dollar seeks to combine the stability of the U.S. dollar with the efficiency of blockchain technology. Each Pax Dollar token is issued as an ERC-20 token on the Ethereum blockchain and is collateralized 1:1 with the USD held in Paxos-owned U.S. bank accounts. This means that for every Pax Dollar token in circulation, there is an equivalent U.S. dollar held in reserve, providing a stable value for the token.
Pax Dollar operates on the Ethereum blockchain, following the ERC-20 protocol. This allows it to be transacted over the Ethereum blockchain in the same way as Ether or any other ERC-20 asset. If a user wants to redeem their USDP, they can send tokens to an address controlled by Paxos. Paxos will then destroy the tokens and transfer fiat currency to the user’s bank account. This process allows for the straightforward exchange of U.S. dollars for Pax Dollar tokens, providing users with the benefits of blockchain assets while minimizing price risk.
Pax Dollar seeks to improve the larger financial ecosystem by creating an efficient global network where all digital assets can be mobilized quickly, with a high level of flexibility and accessibility. It can be used as a means of exchange for other blockchain-based assets, providing a stable asset for transactions within and across asset classes. It can also be used as a hedge during times of volatility in the digital asset market, allowing investors to limit their exposure to digital asset volatility by holding assets in Pax Dollar. Furthermore, it can facilitate the settlement of assets with fiat currency outside of traditional banking hours, providing a more efficient and flexible solution for financial institutions and trading firms.
Pax Dollar was created by Charles Cascarilla and Rich Teo, co-founders of Paxos, in September 2018. Paxos, the company behind Pax Dollar, has a charter from the New York State Department of Financial Services, allowing it to offer regulated services within the crypto asset world. The token itself is backed by the USD in accounts that are held by the company at U.S. depository institutions. Since its inception, Pax Dollar has been striving to create a network where digital assets can be transferred with more flexibility.
We update our Paxos Standard to CAD currency in real-time. Get the live price of Paxos Standard on Coinbase.
The current market cap of Paxos Standard is CA$99.43M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Paxos Standard is CA$933.37. This all-time high is highest price paid for Paxos Standard since it was launched.
Over the last 24 hours, the trading volume of Paxos Standard is CA$838.02K.
Assets that have a similar market cap to Paxos Standard include Arcblock, HOME, ChainGPT, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Paxos Standard is 73 million.
Paxos Standard ranks 292 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 80% of Coinbase users are buying Paxos Standard. In other words, 80% of Coinbase customers have increased their net position in Paxos Standard over the past 24 hours through trading.
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Terms apply. Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
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Legal
Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.