Gemini Dollar (GUSD) Overview
• Gemini Dollar (GUSD) is a stablecoin famous for combining the creditworthiness and price stability of the U.S. dollar (USD) with the technological privileges of a crypto asset.
• GUSD token ranked #76 on CoinMarketCap at the time of writing, with a live market cap of $605.02
• OKX and Ouyi recently declared delisting of GUSD due to its “high risk”
What is GUSD?
Gemini Dollar (GUSD) is a stablecoin famous for combining the creditworthiness and price stability of the U.S. dollar (USD) with the technological privileges of a crypto asset. It is issued by Gemini, a New York trust company regulated by the New York State Department of Financial Services. At the time of writing, GUSD token ranked #76 on CoinMarketCap, with a live market cap of $605.02 and 24-hour trading volume after losing 10.09% to $476,318, up 0.26% in the last 24 hours to $0.997.
Why is GUSD Delisted?
Crypto and derivatives exchange OKX recently declared official delisting of U.S-backed stablecoin Gemini Dollar (GUSD). This was followed by digital asset trading platform Ouyi’s February 1 move to exclude flash exchange services related to GUSD due to projects conducted by Ouyi’s risk control department based on their „Ouyi Rules on Hiding TOKEN and Offline Trading Pairs“. These regulations were put in place to maintain „a healthy digital asset environment“ while optimizing projects‘ liquidity and providing users with an improved trading experience. Wu Blockchain also said that flash swaps would no longer back any GUSD exchanges as it „touched offline rules“ and ran on „high risk“.
Impact On Token Price
The exact impact this delisting will have on GUSD’s token price remains uncertain at this point, however it could potentially lead to downward pressure as investors become more wary about investing in such an unpredictable asset class or one that lacks liquidity or access through certain exchanges or platforms in general – both factors which are usually taken into consideration when determining token prices during periods such as these when volatility runs high across all markets including cryptocurrencies..
It remains unclear what effect this delisting will have on Gemini Dollar’s token price but it could potentially lead to downward pressure over time as investors become more cautious about investing in unstable assets without adequate liquidity options across major exchanges or platforms – both factors which heavily influence token prices during periods like these when volatility runs rampant across all markets including cryptocurrencies..