Price
$0.0086
10/4/2022, 8:48:54 PM
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Market

Market stats

Market cap

$13.5M

Volume (24h)

$362,221.91

Circulating supply

1.6B SPA

All time high

$0.24

Price change (1h)

-0.17%

Price change (24h)

-0.31%

Price change (7d)

-9.91%

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Sperax is on the decline this week.

The price of Sperax has fallen by 9.91% in the past 7 days. The price declined by 0.31% in the last 24 hours. In just the past hour, the price shrunk by 0.17%. The current price is $0.008602 per SPA. Sperax is 96.41% below the all time high of $0.23986.

The current circulating supply is 1,571,568,518.92 SPA.

About

What Is Sperax Token (SPA)?

Sperax (SPA) is a blockchain technology offering stablecoin to users along with high performance and security on the platform. Users often face the difficulty of price volatility issues while adopting several cryptocurrencies in the market. High volatility acts as a hurdle for users to attain crypto assets as a medium of exchange. Due to this, stablecoins were emerged in the market to offer solutions to the users. Stablecoins are coins that are backed by another asset like government-issued currency, gold, etc.

The platform introduced USD, a stablecoin aimed at offering scalable, trustless, and algorithmic decentralized functions to the users on the Sperax chain. The asset is backed by collateralized cryptocurrencies like DAI, TerraUSD, etc. However, the functionality of USD is not merely dependent on the assets backing up the token but the algorithms that aim to offer solvency and scalability to users.

According to its whitepaper, the Sperax protocol work on dual token functionality in which USD is the stablecoin and SPA is the governance accrual token of the platform. Users are allowed to attain SPA in the form of an interest fee on the platform. Also, users require SPA to attain the USD stablecoin in the ecosystem. Users can attain more stablecoins on the platform by locking the collateral in the ecosystem and burning SPA tokens. Burning is the process of removing coins from circulation by sending them to an inaccessible wallet address, thereby increasing the value of the token. The minted tokens are offered to the user in a fraction of their asset collateralized.

The platform also claims to offer passive revenue to the users with a decentralized yield aggregator. The yield aggregator is a financial protocol that allows users to deploy the asset in yield farming opportunities. The protocol re-invests the locked collateral on different platforms using yearn.finance and offers the yield on such asset to the user.

History of Sperax Token (SPA)

The Sperax was founded in the year 2019 by a team of engineers, marketing specialists, mathematicians, and designers. Nicolas Andreoulis and Susu Pu are a part of the research team, and Frida Cai is in marketing. Rey Maximo, Shailesh Narayan, Nicolas Salem, and Andrew Ye are the engineers of the platform while Alec Shaw handles the business development in Sperax.

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FAQ

What is the current price of Sperax?

The price of 1 Sperax currently costs $0.0086.

What is the market cap of Sperax?

The current market cap of Sperax is $13.52M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Sperax?

The all-time high of Sperax is $0.24. This all-time high is highest price paid for Sperax since it was launched.

What is the 24 hour trading volume of Sperax?

Over the last 24 hours, the trading volume of Sperax is $362.22K.

What other assets are similar to Sperax?

Assets that have a similar market cap to Sperax include SONM (BEP-20), SIX, Bounce Token, and many others. To see a full list, see our comparable market cap assets.

How many Sperax are there?

The current circulating supply of Sperax is 1.6 billion.

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