The Block • Sep 27, 23
Bitcoin’s correlation with equities continuing to diverge
The correlation between bitcoin and equities will continue to diverge over the coming months due to the Fed's continued monetary tightening.
Read more
Market
Market stats
Market cap
-
Volume (24h)
$45,405.64
Circulating supply
-
All time high
$242.18
Price change (1h)
+0.11%
Price change (24h)
+2.88%
Price change (7d)
-12.55%
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.
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.
Proxy is on the decline this week.
The price of Proxy has fallen by 12.55% in the past 7 days. The price increased by 2.88% in the last 24 hours. In just the past hour, the price grew by 0.11%. The current price is $0.0359 per PRXY. Proxy is 99.99% below the all time high of $242.18.
The current circulating supply is 0 PRXY.
Ratings
Rate Proxy
Be one of the first to share a rating for this project
About
What Is Proxy (PRXY)?
Proxy, renamed BTC Proxy, is the institutional-grade Bitcoin DeFi bridge to the Polygon and Ethereum networks. The platform has a migrated contract address from Proxy to BTC Proxy. The BTC Proxy platform aims to provide a scalable layer-2 protocol to decentralized tokenization of Bitcoin, mainly for multinational institutions. Users can trade and manage their assets cross-chain (across different blockchains) on the platform utilizing the Proxy Relay. Proxy Relay is the bridge that Bitcoin holders can use to stake and transfer Bitcoin into another chain like Ethereum or Polygon without the need for a central exchange system.
As its whitepaper suggests, the platform faces some challenges with the current Ethereum ecosystem. For instance, the lack of a proper permissionless and decentralized bridge to transfer Bitcoin value to Ethereum/Matic; smart contracts dominate DEXs, digital swaps, and many other functions; and CEX and systems are exponentially increasing counterparty risks. Thus, to overcome these challenges, the BTC Proxy network aims to facilitate the features including minting, redemption, earning yield, custody (keeping funds safe with the help of regulated custodians), and PROXY governance.
BTC Proxy is a Bitcoin Liquidity Protocol that enables users to trade and transfer funds without price slippage. In addition, the protocol has independent liquidity that affects the exchange prices on centralized exchanges (CEX) and decentralized exchanges (DEX). The ecosystem also intends to help the users by providing financial freedom, supporting a decentralized bridge for securely and efficiently transferring funds, a flexible platform for redemption and standardizing Bitcoin for MRC20 and ERC20 formats.
The BTC Proxy ecosystem runs a community-governed DAO structure, with its two tokens, MATIC and PRXY, working in tandem. Here, MATIC is a reward token, and PRXY is a governance token that powers the ecosystem's growth. PRXY is the ERC20-based protocol token.
Further, using PRXY, users can submit proposals or funding requests to improve the ecosystem. PRXY can also be used for staking, Bitcoin farming, paying gas fees for the minting and redeeming BTCpx, liquidity mining, etc. BTCpx is the deposit to custody minted coin powering the BTC Proxy ecosystem. Also, users can earn PRXY by providing liquidity to BTCpx in the Automated Market-Making (AMM) pool and facilitates staking liquidity pool tokens into the staking contacts.
History of Proxy (PRXY)
Donnie Kim is the founder and CEO of the BTC Proxy ecosystem. The team decided to launch the BTC Proxy platform with a maximum supply of 21 million PRXY tokens.
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 12 are the closest to Proxy in market cap.
Proxy Calculator
How much is 1 PRXY?
Conversion Table
PRXY/CAD (Canadian Dollar)
CA$0.0483
PRXY/GBP (British Pound)
£0.0293
PRXY/BRL (Real)
R$0.18
PRXY/EUR (Euro)
€0.0339
PRXY/NGN (Nigerian Naira)
NGN 27.95
PRXY/SGD (Singapore Dollar)
S$0.0489
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.
Read more
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
Read more
CoinDesk • Sep 27, 23
The Protocol: Google Pushes Deeper into Blockchain
Google's cloud-computing division is increasingly involved in blockchain, with plans to add 11 networks including Polygon, Optimism, and Polkadot to its 'BigQuery' program for public datasets.
Read more
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.
Read more
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.
Read more
Coinbase Bytes
Coinbase Bytes
The week’s biggest crypto news, sent right to your inbox
Learn how we collect your information by visiting our Privacy Policy.
FAQ
What is the current price of Proxy?
We update our Proxy to USD currency in real-time. Get the live price of Proxy on Coinbase.
What is the market cap of Proxy?
The current market cap of Proxy is $0.00. A high market cap implies that the asset is highly valued by the market.
What is the all time high of Proxy?
The all-time high of Proxy is $242.18. This all-time high is highest price paid for Proxy since it was launched.
What is the 24 hour trading volume of Proxy?
Over the last 24 hours, the trading volume of Proxy is $45.41K.
What other assets are similar to Proxy?
Assets that have a similar market cap to Proxy include ParallelChain, Medicalchain, Optimus Inu, and many others. To see a full list, see our comparable market cap assets.
How many Proxy are there?
The current circulating supply of Proxy is 0.
Can I buy Proxy on Coinbase?
No, Proxy is not currently available on Coinbase, but you can sign up to get the latest news on Proxy 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.