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What is Gemini Dollar (GUSD)?

Gemini Dollar basic info

Name:Gemini Dollar
Ticker:
Introduction:

What is Gemini Dollar?

The Gemini Dollar (GUSD) is a stablecoin issued by Gemini Trust Company, founded by Cameron and Tyler Winklevoss. It aims to merge the stability of the U.S. dollar with blockchain efficiency. Each GUSD is pegged to a U.S. dollar held in reserve, offering stability not commonly found in other cryptocurrencies like Bitcoin and Ethereum.

GUSD is regulated by the New York State Department of Financial Services (NYDFS), ensuring compliance with financial regulations and regular audits. This adds credibility and makes it a preferred choice for users seeking a reliable stablecoin. However, it faced a setback in March 2023 when it temporarily lost its 1-to-1 peg, trading at around US$0.97.

Resources

Official Whitepaper:https://www.gemini.com/static/dollar/gemini-dollar-whitepaper.pdf

Official Website: https://www.gemini.com/dollar

How Does Gemini Dollar Work?

The operation of the Gemini Dollar (GUSD) is quite straightforward and is supported by a blend of blockchain technology and banking partnerships. When someone wants to buy GUSD, they can easily do so via the Gemini exchange platform. Once purchased, an equivalent amount of U.S. dollars is securely held in reserve by the Gemini Trust Company, stored in a bank account that undergoes regular audits. This setup guarantees that for each GUSD token in circulation, there's a corresponding U.S. dollar held in reserve, thereby maintaining a 1:1 peg between the two.

Transactions involving GUSD are facilitated on the Ethereum blockchain, serving as the backbone for the token's smart contract. This arrangement enables users to send, receive, and store the token in any wallet that is compatible with Ethereum. Moreover, the smart contract that governs GUSD is carefully coded to ensure the 1:1 peg to the U.S. dollar. It also incorporates features that bolster transparency and allow for periodic auditing.

What is Gemini Dollar Token (GUSD)?

The GUSD token is the digital representation of the Gemini Dollar, built on the Ethereum blockchain and compliant with the ERC-20 standard. This enables it to integrate easily with various Ethereum wallets and decentralized applications (DApps).

Which Factors Affect Gemini Dollar Token (GUSD) Price?

While GUSD is designed to maintain a stable value of one U.S. dollar, several factors could potentially impact its price. These include:

- Regulatory Changes: Any alterations in the regulatory landscape, especially from the NYDFS, could influence the stability or utility of GUSD.

- Market Demand: While the token is pegged to the U.S. dollar, extreme fluctuations in demand could theoretically lead to slight deviations in its price. However, the Gemini Trust Company usually steps in to maintain the peg through a mechanism known as arbitrage.

- Financial Audits: Results from periodic audits could affect public perception and, consequently, demand. Positive audits affirm trust, while negative outcomes could undermine it.

- Economic Conditions: Factors like inflation or interest rates affecting the U.S. dollar could indirectly influence the appeal of holding GUSD as a stable asset.

- Technical Issues: Any vulnerabilities or issues related to the Ethereum blockchain could impact GUSD, although such risks are generally considered to be low.

Gemini Dollar's Impact on Finance

GUSD has significantly impacted the financial sector by providing a stable and transparent digital asset that serves as a bridge between traditional fiat currencies and cryptocurrencies. Its features—stability, transparency, and regulatory oversight—have earned it the trust of various stakeholders, from individual investors to financial institutions. By offering a stable and efficient medium for transactions, GUSD has broadened the use-cases for digital assets and contributed to the maturation of the cryptocurrency market.

Conclusion

In summary, the Gemini Dollar (GUSD) has been a game-changer in the financial world by offering the stability of the U.S. dollar along with the benefits of blockchain technology. Despite some setbacks, such as its temporary value fluctuation in March 2023, its regulated and transparent nature has made it a trusted option for various stakeholders. GUSD has thus played a pivotal role in making cryptocurrencies more accessible and credible, shaping the future of finance.

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Current price:
All-time high:$1.27
All-time low:$0.8521

GUSD supply and tokenomics

Circulating supply:60,482,516 GUSD
Total supply:60,482,514.02 GUSD
Max supply:148,548,675.98 GUSD
Market cap:$60.51M
Fully diluted market cap:$148.62M

Links

Buy Gemini Dollar for $1Buy GUSD now

What is the development prospect and future value of GUSD?

The market value of GUSD currently stands at $60.51M, and its market ranking is #614. The value of GUSD is not widely recognized by the market. When the bull market comes, the market value of GUSD may have great growth potential.

As a new type of currency with innovative technology and unique use cases, GUSD has broad market potential and significant room for development. The distinctiveness and appeal of GUSD may attract the interest of specific groups, thereby driving up its market value.

What will the price of GUSD be in 2025?
Based on GUSD's historical price performance prediction model, the price of GUSD is projected to reach $1.5 in 2025.
What will the price of GUSD be in 2030?
In 2030, the GUSD price is expected to change by -8.00%. By the end of 2030, the GUSD price is projected to reach $2.03, with a cumulative ROI of +102.95%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of GUSD and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is GUSD worth investing or holding? How to buy GUSD from a crypto exchange?

If you want to buy GUSD, the following information may be helpful for your investment decisions:
In the last seven days, the price of GUSD has risen by 0.12%, leading to positive returns for most GUSD investors. The market is currently optimistic about the price trend of GUSD.
It is important to note that the current price of GUSD has retreated by -21.45% from its all-time high. This coin is currently considered medium-risk, and its price may rebound or continue to fall.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether GUSD is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in GUSD or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of GUSD, if you want to buy or sell GUSD, you can consider Bitget for your trading needs. The best place to buy GUSD is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Gemini Dollar has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Gemini Dollar. Here's a step-by-step guide on how to buy Gemini Dollar on Bitget.

How to get Gemini Dollar through other methods?

Using cash to buy Gemini Dollar is not the only way to obtain Gemini Dollar. If you have the time to spare, you can get Gemini Dollar for free.
Learn how to earn Gemini Dollar for free through the Learn2Earn promotion.
Earn free Gemini Dollar by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Gemini Dollar airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Gemini Dollar through Bitget Convert, Bitget Swap, or spot trading.

What is Gemini Dollar used for and how to use Gemini Dollar?

The use case of Gemini Dollar may expand as the crypto market and the project itself develop. Currently, you can use GUSD to achieve the following goals:
Arbitrage by trading GUSD: Since GUSD is a frequently traded cryptocurrency, the price of GUSD is always fluctuating. Earn more GUSD by buying low and selling high on the exchange. Bitget spot market provides a variety of GUSD trading pairs to fully meet your needs.
Earn by staking GUSD: You can also generate income through financial management methods such as staking GUSD or lending GUSD. Bitget Earn offers a variety of financial products designed to help you earn more income from your GUSD.
Send or pay GUSD: If you want to give GUSD to your friends, a charity, or a fundraiser, or you want to pay someone with GUSD, you can quickly and easily send GUSD to the recipient through their payment address.
You can also go to the official website of the Gemini Dollar project to learn more about the use cases of GUSD. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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GUSD resources

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Asset-Backed Stablecoin
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Links
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GUSD price calculator

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