Overview of Gemini Dollar (GUSD)
Gemini Dollar (GUSD) is a regulated stablecoin issued by Gemini Trust Company LLC. Each GUSD token is pegged 1:1 to the US Dollar and is built on the Ethereum blockchain following the ERC-20 standard. The primary goal of GUSD is to combine the stability of traditional fiat currency with the efficiency and transparency of blockchain technology.
As of the latest data, the live Gemini Dollar price is $1.00 USD**, with a 24-hour trading volume of approximately **$110.73 million. The circulating supply stands at 46.98 million GUSD, while the maximum supply is capped at 148.55 million GUSD.
How Gemini Dollar Maintains Its Peg
Gemini Dollar is designed to maintain a strict 1:1 peg with the US Dollar. This stability is achieved through:
- Collateral Backing: Every GUSD token is fully backed by US Dollars held in reserve at State Street Bank and Trust Company.
- Regular Audits: The reserve balances are audited monthly by BPM, LLP, an independent registered public accounting firm. This ensures that the token's collateralization is always verifiable and transparent.
- Smart Contract Audits: The code governing GUSD’s smart contracts has been thoroughly audited by a firm specializing in information security, providing an additional layer of trust and security for users.
This structure is intended to provide users with the creditworthiness and price stability of the U.S. dollar while enabling fast, global transactions on the Ethereum network.
GUSD Price History and Market Performance
GUSD is a stablecoin, meaning its primary function is to maintain price stability rather than appreciate in value. Its price has consistently remained at or extremely near its $1.00 peg since inception. For traders and investors, its key utility lies in its role as a safe haven during market volatility, a tool for transferring value between exchanges, and a base currency for trading pairs.
Unlike volatile cryptocurrencies, GUSD does not have a traditional "all-time high" or "all-time low" in the same sense, as its value is engineered to be constant.
Key Features and Use Cases
Gemini Dollar offers several advantages for users in the digital asset ecosystem:
- Stability: Its 1:1 USD peg makes it immune to the extreme volatility seen in other cryptocurrencies.
- Transparency: Monthly attestation reports publicly verify that the reserves are fully backed.
- Regulatory Compliance: Issued by a New York Trust company regulated by the New York State Department of Financial Services (NYSDFS).
- Efficiency: Enables fast and low-cost transfers of dollar value globally on the Ethereum blockchain.
- Interoperability: As an ERC-20 token, it can be seamlessly integrated with a wide array of Ethereum-based applications, including decentralized finance (DeFi) protocols, wallets, and exchanges.
Contract Addresses
To interact with GUSD, users must ensure they are using the correct contract address to avoid losing funds:
- Ethereum:
0x056Fd409E1d7A124BD7017459dFEa2F387b6d5Cd - Near:
056fd409e1d7a124bd7017459dfea2f387b6d5cd.factory.bridge.near(This is a bridged representation on the NEAR protocol)
How to Track Gemini Dollar Price
Tracking the live price of GUSD is straightforward due to its stability. Most major cryptocurrency data aggregators and exchanges provide real-time price feeds, charts, and market data for the stablecoin.
For a comprehensive view of the market, you can use tools that feature price history, market capitalization, and volume charts. 👉 Explore real-time price tracking tools
Frequently Asked Questions
What is Gemini Dollar (GUSD)?
Gemini Dollar is a regulated U.S. dollar-backed stablecoin. Each GUSD token is issued by Gemini Trust Company and is fully backed by one U.S. dollar held in a segregated bank account, making it a stable digital asset for transactions and storing value.
How is the value of GUSD maintained?
The value is maintained through a 1:1 peg to the U.S. dollar. Gemini holds an equivalent amount of USD in reserves at State Street Bank, and these holdings are verified through monthly audits conducted by an independent accounting firm to ensure full collateralization.
Where can I use Gemini Dollar?
GUSD can be used for trading, as a stable base currency on various exchanges, for transferring value quickly and inexpensively, and within the Ethereum DeFi ecosystem. It can be held in compatible ERC-20 wallets and on the Gemini exchange.
Is Gemini Dollar a good investment?
As a stablecoin, GUSD is not designed for investment appreciation. Its value is intended to remain stable at $1.00. Its primary utility is as a medium of exchange and a safe store of value within the crypto market, not as a speculative asset.
How does GUSD differ from other stablecoins like USDT or USDC?
Like USDC, GUSD is known for its regulatory compliance and transparent attestation reports. A key differentiator is that it is issued by Gemini, a regulated crypto exchange and custodian. All three aim for a 1:1 USD peg, but their issuers, reserve structures, and levels of transparency can vary.
How can I convert GUSD to another cryptocurrency?
You can convert GUSD on most major cryptocurrency exchanges. Simply trade your GUSD for another crypto asset like Bitcoin or Ethereum using the available trading pairs. 👉 Get advanced conversion methods