The live price of Gemini Dollar (GUSD) today is 0.999647 USD, and with the current circulating supply of Gemini Dollar at 148,251,945.87 GUSD, its market capitalization stands at 148,199,628 USD. In the last 24 hours GUSD price has moved -0.002399 USD or -0.00% while 649,869 USD worth of GUSD has been traded on various exchanges. The current valuation of GUSD puts it at #290 in cryptocurrency rankings based on market capitalization.
Learn more about the Gemini Dollar blockchain network and how it works or follow the price of its native cryptocurrency GUSD and the broader market with our unique COIN360 cryptocurrency heatmap.
The Gemini Dollar (GUSD) is a stablecoin cryptocurrency developed by the Gemini Trust Company, a New York-based digital currency exchange owned by the Winklevoss twins. GUSD is a token that is issued on the Ethereum blockchain and is pegged 1:1 with the US dollar. This means that for every Gemini Dollar in circulation, there is an equivalent amount of US dollars held in reserve by the Gemini Trust Company.
As an ERC-20 token, Gemini Dollar operates on the Ethereum blockchain, which uses a Proof-of-Stake (PoS) consensus mechanism. This mechanism allows for faster transaction times and lower fees compared to Proof-of-Work blockchains.
Gemini Dollar operates on the Ethereum blockchain, which is renowned for its smart contract functionality. This allows for the creation of decentralized applications and also enables the issuance of tokens like GUSD.
As an ERC-20 token, GUSD benefits from the scalability of the Ethereum network, which can handle a large number of transactions per second.
GUSD is backed by the US dollar and held at State Street Bank and Trust Company. The US dollar deposit balance is examined monthly by BPM, LLP, a registered public accounting firm, to ensure transparency and security.
While transactions on the Ethereum blockchain are transparent, the identity of GUSD holders remains private unless they choose to disclose it.
Despite being issued by a centralized entity, GUSD operates on a decentralized network (Ethereum), which ensures its immutability and censorship resistance.
The Gemini Trust Company, led by Cameron and Tyler Winklevoss, is responsible for the issuance and governance of GUSD. The company is regulated by the New York State Department of Financial Services.
GUSD can be used for a variety of purposes, including money transfers, payments, and as a stable store of value in the volatile crypto market. Its potential impact is vast, as it can provide a stable digital asset in countries with unstable currencies.
GUSD can be purchased on the Gemini exchange and other platforms that support ERC-20 tokens. It can be bought using US dollars or traded for other cryptocurrencies.
Being an ERC-20 token, GUSD can be stored in any wallet that supports Ethereum, such as MetaMask, MyEtherWallet, and hardware wallets like Ledger and Trezor.
Gemini has partnered with various entities in the crypto space to increase the adoption of GUSD. These include exchanges, wallet providers, and payment processors.
While Gemini has not released a specific roadmap for GUSD, the company continues to work on increasing its adoption and maintaining its regulatory compliance.
As with any cryptocurrency, GUSD faces potential risks and challenges. These include regulatory changes, competition from other stablecoins, and the reliance on the Ethereum network's stability.
GUSD has a growing community of users, developers, and supporters, many of whom are attracted by its stability and regulatory compliance.
GUSD is one of the few cryptocurrencies that is fully regulated. It is issued by the Gemini Trust Company, which is licensed by the New York State Department of Financial Services.
In conclusion, the Gemini Dollar is a unique stablecoin that combines the stability of the US dollar with the benefits of blockchain technology. Its regulatory compliance, transparency, and security make it a promising digital asset for a wide range of uses.
|Gemini Dollar Price
|Yesterday's Market Cap
|Yesterday's Open / Close
|1.0021 USD / 0.999701 USD
|Yesterday's High / Low
|1.0052 USD / 0.99819 USD
0.00% ( 0.002399 USD )