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PAXS

$--
--%
1d
1w
1m

Analysis and statistics

  • Open
    15.5718$
  • Previous Close
    15.6021$
  • 52 Week Change
    2.73$
  • Day Range
    -0.03$
  • 52 Week High/Low
    12.9715$ - 15.7$
  • Dividend Per Share
    0
  • Market cap
    697 M$
  • EPS
    --
  • Beta
    --
  • Volume
    --

About

PAXS.US refers to Paxos Trust Company LLC's Paxos Standard stablecoin. It's a digital asset pegged to the US dollar, meaning each PAX token is backed by one US dollar held in reserve by Paxos. It is designed to provide stability and facilitate efficient transfers of value on blockchain networks.

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Factors

Paxos Trust Company does not have publicly traded stocks under the ticker symbol PAXS.US or any other. PAXS is the symbol for Paxos Standard, a stablecoin. Stablecoins are cryptocurrencies whose value is pegged to another asset, like the US dollar. If you are asking about the price of the Paxos Standard stablecoin (PAX), the primary factor influencing its price is its peg to the US dollar. US Dollar Peg: Paxos Standard (PAX) is designed to maintain a 1:1 peg with the US dollar. Its price will fluctuate based on market demand and supply to stay as close to $1 as possible. If demand exceeds supply, the price might slightly increase, and vice versa.

Market Demand: Higher demand for PAX, driven by factors like increased crypto trading activity or users seeking a stable store of value, can temporarily push its price above $1. Lower demand can lead to a slight decrease.

Supply Fluctuations: Paxos creates and burns PAX tokens to maintain the peg. If the price of PAX rises above $1, Paxos can issue more tokens. If it falls below, they can buy back and burn tokens, reducing supply.

Trust in Paxos: The price of PAX is influenced by the market's confidence in Paxos' ability to maintain the dollar peg. Negative news or concerns about their reserves could lead to a decrease in price.

Regulatory Scrutiny: Regulatory actions or announcements regarding stablecoins in general or Paxos specifically can affect the perceived risk associated with PAX, influencing its price.

Broader Crypto Market Sentiment: Overall sentiment in the cryptocurrency market can indirectly affect PAX. During bullish periods, demand for stablecoins might decrease slightly as users move into more volatile assets.

Competitor Stablecoins: The availability and adoption of other stablecoins like USDT and USDC can impact the demand and, therefore, the price of PAX. Increased competition might put downward pressure on PAX.

Transaction Fees and Speed: The cost and speed of transacting with PAX compared to other stablecoins or traditional payment methods can affect its attractiveness and usage, influencing its demand and price.

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