Market cap coins9/9/2023 As such, few firms accept payment in cryptocurrencies. However, this does little for price stability. This volatility attracts investors who hope to buy when the price is low and sell at its peak, turning a profit. This gives cryptocurrency investors an idea of the overall market size, and watching the evolution of the measure tells how much money is flowing in or out of each cryptocurrency.Ĭryptocurrency as an investment The price of Bitcoin has been erratic, and most other cryptocurrencies follow its larger price swings. Read More Show Fully Diluted Valuation 1 2 3 4 5. However, cryptocurrency analysts calculate it as the price of the virtual currencies times the number of coins in the market. Cryptocurrency Prices by Market Cap Show Stats The global cryptocurrency market cap today is 1.25 Trillion, a 0.1 change in the last 24 hours. What is market cap? Market capitalization is a financial measure typically used for publicly traded firms, computed by multiplying the share price by the number of outstanding shares. Bitcoin's market cap made up the majority of the overall market capitalization. That value declined in the summer of 2023, however, as international uncertainty grew over a potential recession. To date, $82.3 million crvUSD has been minted so far.It is estimated that the cumulative market cap of cryptocurrencies increased in early 2023 after the downfall in November 2022 due to FTX. In May, DeFi protocol Curve Finance launched its own over-collateralized stablecoin on Ethereum, crvUSD. Since the issuance is managed by a dynamic system of smart contracts, if there is a swift drop in the price of ETH, users will need to top up their collateral or risk getting liquidated. Due to the decentralized nature of its collateral as well as the fact that the protocol overseeing the stablecoin isn't manned by a single company, it's often termed a decentralized stablecoin.įor every $1 of DAI, users need to deposit about $1.94 of crypto. It has a circulating supply of 1,018,142,077 1INCH coins and. The current CoinMarketCap ranking is 97, with a live market cap of 334,729,934 USD. 1inch Network is down 1.97 in the last 24 hours. Cryptocurrency Prices, Charts, Daily Trends, Market Cap, and Highlights Coinbase Explore the cryptoeconomy In the past 24 hours the market is down 1. We update our 1INCH to USD price in real-time. Maker Foundation’s DAI stablecoin on Ethereum was the first of its kind to be backed by overcollateralized crypto loans.ĭAI is mainly backed by USDC, although other Ethereum-based cryptocurrencies can be used to mint it, including Ethereum and Wrapped Bitcoin (WBTC). The live 1inch Network price today is 0.328765 USD with a 24-hour trading volume of 33,633,197 USD. Treasury bills, which are held with centralized entities like a bank. The biggest stablecoins, USDT and USDC, issued by Tether and Circle respectively, maintain their 1:1 peg to the dollar by holding reserves of assets, typically in the form of cash and U.S. While the current supply indicates only 2.5% has been minted so far, this cap can be expanded by the Aave DAO following another community vote.Ĭollateral deposited in the Aave V3 protocol continues to earn yield and interest paid for borrowing GHO is directed towards the DAO treasury.įurthermore, users who supply AAVE into the protocol’s safety module to backstop the stablecoin can purchase GHO at a discount. Users can mint it by supplying other cryptocurrencies that are listed on Aave V3 as collateral, including AAVE, ETH, USDT, USDC, and DAI.Īs GHO is overcollateralized, the total value of reserves staked to mint it far exceeds that of the GHO in circulation.Īave V3’s total minting capacity as a Facilitator is 100 million GHO, according to an official blog post published at the time of launch. GHO has been deployed on Aave’s V3 market. Only three wallets holding a combined total of 10 AAVE declined one of the three wallets that voted against held 10 AAVE and the other two held fractions of it. In the final vote, 421 wallets holding a combined total of 881,059 AAVE tokens voted in favor of the launch. The Aave DAO oversees governance of GHO, including setting and adjusting the total supply, interest rate, and Facilitator minting caps, determining risk parameters, and approving and governing Facilitators.Ī Facilitator is a protocol or entity authorized by the Aave DAO to mint GHO.
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