The Block • Sep 27, 23
Bitcoin’s correlation with equities continuing to diverge
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Market
Market stats
Market cap
$85.2M
Volume (24h)
$160,608.49
Circulating supply
2.2B PEG
All time high
$0.0502
Price change (1h)
-0.04%
Price change (24h)
+11.02%
Price change (7d)
+12.93%
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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.
PegNet is on the rise this week.
The price of PegNet has risen by 12.93% in the past 7 days. The price increased by 11.02% in the last 24 hours. In just the past hour, the price shrunk by 0.04%. The current price is $0.0382 per PEG. PegNet is 23.81% below the all time high of $0.0502.
The current circulating supply is 2,227,955,499.004 PEG.
About
What Is PegNet (PEG)?
PegNet (PEG) is a decentralized, non-custodial network of tokens pegged (stabilized) to different currencies and assets. A currency peg is a method where a national government fixes the exchange rate of its currency with a foreign currency. PegNet allows trading and conversion of value without the need for counterparties. PegNet is an auditable, open- source stablecoin and logical network using the competition of Proof of Work (PoW) and external oracles (entities that connect blockchains to external systems). With a community-driven movement, PegNet seeks to put crypto users in control of trading, mining and holding decentralized stablecoins. Ultimately, PegNet plans to become a complete decentralized stablecoin system.
As per its whitepaper, trusting a centralized institution with crypto assets is tricky. Whenever a centralized institution collapses, crypto holders suffer. Stablecoins, on the other hand, enjoy a reputation of decentralization yet operate on vulnerable reserve-based systems. The reserve systems have a central point of failure that again causes a challenge to stablecoin holders. To replicate what Bitcoin did for traditional currency, PegNet aims to do the same with stablecoins. As a result, PegNet launched a decentralized network of stablecoins.
Working: Every ten minutes, PoW miners report the prices of tokens pegged to traditional currencies, crypto assets, and commodities like gold and silver. In this decentralized system, there are no third-party intermediaries. Users purchase or mine PegNet native PEG token and convert it into any pegged asset on the network. Native tokens can be converted to any pAsset on the network with no slippage, and with limitless liquidity. An example of a pegged asset is pBTC (pegged bitcoin).
The PegNet wallet, one of the facilities offered by PegNet, allows the users to convert between pegged tokens. The wallet is free from the involvement of intermediaries. The PegNet wallet is fully responsible for managing the transactions and balances for different assets. Another feature within PegNet is the PegNet Explorer, which allows users to view the activities that take place on the PegNet protocol.
History of PegNET
PegNet was launched in 2019.
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PegNet Calculator
How much is 1 PEG?
Conversion Table
PEG/CAD (Canadian Dollar)
CA$0.0519
PEG/GBP (British Pound)
£0.0313
PEG/BRL (Real)
R$0.19
PEG/EUR (Euro)
€0.0362
PEG/NGN (Nigerian Naira)
NGN 29.57
PEG/SGD (Singapore Dollar)
S$0.0523
Reading List
News
Decrypt • Sep 27, 23
You Can Now Trade Bitcoin Mining Hashpower on Arbitrum
The Lumerin Hashpower Marketplace creates a novel method for decentralizing Bitcoin's global hashrate and makes mining accessible to retail investors.
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Unchained • Sep 27, 23
SEC Chair Gensler Says Bitcoin Isn’t a Security
Appearing before the U.S. House Financial Services Committee on Wednesday, Securities and Exchange Commission (SEC) Chair Gary Gensler said that bitcoin (BTC) isn’t a security but stopped short of calling the digital asset a commodity. The sentiment echoed Gensler’s previously more lenient stance on
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CoinDesk • Sep 27, 23
The Protocol: Google Pushes Deeper into Blockchain
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CoinDesk • Sep 27, 23
With All Eyes on a Spot Bitcoin ETF Approval, Don’t Sleep on ETH (or ETHE)
There’s a better trade than buying Grayscale’s GBTC if you’re optimistic the SEC will approve crypto ETFs.
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The Block • Sep 27, 23
FalconX participates in $3 million seed round for DeFi portfolio manager Bril Finance
Bril Finance raised $3 million in seed funding from FalconX, Kosmos Ventures and the Algorand Foundation. It also officially launched on Sei.
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FAQ
What is the current price of PegNet?
We update our PegNet to USD currency in real-time. Get the live price of PegNet on Coinbase.
What is the market cap of PegNet?
The current market cap of PegNet is $85.15M. A high market cap implies that the asset is highly valued by the market.
What is the all time high of PegNet?
The all-time high of PegNet is $0.0502. This all-time high is highest price paid for PegNet since it was launched.
What is the 24 hour trading volume of PegNet?
Over the last 24 hours, the trading volume of PegNet is $160.61K.
What other assets are similar to PegNet?
Assets that have a similar market cap to PegNet include Cannation, Steem, Numeraire, and many others. To see a full list, see our comparable market cap assets.
How many PegNet are there?
The current circulating supply of PegNet is 2.2 billion.
Can I buy PegNet on Coinbase?
No, PegNet is not currently available on Coinbase, but you can sign up to get the latest news on PegNet and be notified when it gets added to our exchange.
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.