Gemini Dollar logo

Gemini Dollar

GUSD

Price
$1.00
12/5/2022, 8:02:25 AM
diamondHands

Trade Gemini Dollar today

Create a Coinbase account to buy and sell Gemini Dollar on the most secure crypto exchange.

Market

Market stats

Market cap

$604.4M

Volume (24h)

$404,423.24

Circulating supply

607.0M GUSD

Typical hold time

1 day

Trading activity

Not enough data

Popularity

#44

All time high

$1.27

Price change (1h)

-0.63%

Price change (24h)

-0.89%

Price change (7d)

-0.59%

Sign up now to get up to $400 in rewards

Coinbase users can earn up to $400 on average just by taking advantage of our rewards. Get started now.

congratulationsOnEarningCrypto

Gemini Dollar is on the decline this week.

The price of Gemini Dollar has fallen by 0.59% in the past 7 days. The price declined by 0.89% in the last 24 hours. In just the past hour, the price shrunk by 0.63%. The current price is $1.00 per GUSD. Gemini Dollar is 21.22% below the all time high of $1.27.

The current circulating supply is 607,049,883.35 GUSD.

About

GUSD is a stablecoin running on Ethereum that attempts to maintain a value of US $1.00. The supply of GUSD is collateralized by US dollars held at State Street Bank. Users can buy and redeem GUSD through the Gemini cryptocurrency exchange.

What Is the Gemini Dollar (GUSD)?

The Gemini dollar is a cryptographic token pegged (derived) 1:1 to the U.S. dollar and is built on the Ethereum network on the ERC20 standard. The Gemini dollar is a stable coin that combines the price stability and the creditworthiness of the U.S. dollar with the technological benefits of a cryptocurrency. Gemini dollars are created when anyone purchases something on the Gemini platform and then are redeemed or "destroyed" when they sell something on the Gemini platform.

The whitepaper states that the popularity of cryptocurrencies has recently risen, as has investor interest. While they carry as much promise as the internet, they are subject to significant price fluctuation, which limits their use as a medium of exchange. The establishment of a stable value coin (commonly referred to as a "stablecoin"), an issuer provides a token to consumers in exchange for a predetermined traditional currency. For example, at a fixed 1:1 exchange rate, the US dollar is one proposed solution. The US dollar is an ideal peg for a stablecoin since it is both an in-demand medium of exchange and a globally acknowledged unit of account. 

According to the platform, what is needed is a stablecoin that people can trust, for which the team proposes the Gemini dollar coin (GUSD). As the website states, each GUSD represents a US dollar held by Gemini in FDIC-insured bank accounts in the United States. Besides, the money market funds hold short-term US Treasury bonds and are held with a custodian. Users can trade and stake in DeFi using GUSD, and there are no costs associated with trading GUSD on the Gemini Exchange. The Gemini dollar can be transmitted on the Ethereum network since it is an ERC-20 compliant token. 

History of Gemini Dollar (GUSD)

Gemini is a New York trust company regulated by the New York State Department of Financial Services (NYSDFS). Gemini is also a qualified custodian and a fiduciary. Gemini is based on the principle of "security first" and the culture of seeking permission rather than forgiveness.

Related Assets

Trending assets

Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.

Popular cryptocurrencies

A selection of cryptocurrencies in the top 50 by market cap.

Recently added

A selection of the most recently added cryptocurrencies.

Comparable market cap

Of all the assets on Coinbase, these 8 are the closest to Gemini Dollar in market cap.

Coinbase Bytes

Coinbase Bytes

The week’s biggest crypto news, sent right to your inbox

FAQ

What is the current price of Gemini Dollar?

The price of 1 Gemini Dollar currently costs $1.00.

What is the market cap of Gemini Dollar?

The current market cap of Gemini Dollar is $604.42M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Gemini Dollar?

The all-time high of Gemini Dollar is $1.27. This all-time high is highest price paid for Gemini Dollar since it was launched.

What is the 24 hour trading volume of Gemini Dollar?

Over the last 24 hours, the trading volume of Gemini Dollar is $404.42K.

What other assets are similar to Gemini Dollar?

Assets that have a similar market cap to Gemini Dollar include BitDAO, KuCoin Token, Maker, and many others. To see a full list, see our comparable market cap assets.

How many Gemini Dollar are there?

The current circulating supply of Gemini Dollar is 607 million.

What is the typical holding time of Gemini Dollar?

The median time that Coinbase customers hold Gemini Dollar before selling it or sending it to another account or address is 1 days.

What is the relative popularity of Gemini Dollar?

Gemini Dollar ranks 228 among tradable assets on Coinbase. Popularity is currently based on relative market cap.