Market Cap
$13,997,293.1
Fully Diluted Valuation
$13,997,293.1
24 Hour Trading Vol
$713.89
Circulating Supply
2,098,780,833.0
Total Supply
2,098,780,833.0
Max Supply
∞
GYEN Price
$0.006669
24h Range
$0.006574 - $0.006696
Percent Change 1h
0.44%
Percent Change 24h
0.42%
Percent Change 7d
-13.39%
All-time high
$0
All-time low
$0
1D
7D
1M
1Y
All
GYEN (GYEN) is a stablecoin that is pegged to the Japanese Yen (JPY) on a 1:1 basis, allowing users to transact in a digital currency that maintains a stable value relative to the Japanese currency. Launched in late 2020, GYEN is designed to facilitate seamless transactions in the cryptocurrency ecosystem while reducing the volatility typically associated with other cryptocurrencies. As a stablecoin, GYEN provides a reliable means of transferring value and is particularly appealing for users looking to hedge against market fluctuations.
GYEN was developed by the cryptocurrency company GSENetwork, which specializes in creating blockchain-based digital assets. The team behind GSENetwork consists of experienced professionals from various fields, including technology, finance, and blockchain development. While individual founder identities may not be widely publicized, the collective expertise of the GSENetwork team plays a significant role in the development and maintenance of GYEN.
GYEN operates on the Ethereum blockchain, utilizing smart contracts to ensure transparency and security in transactions. Each GYEN token is backed by Japanese Yen held in reserve, which is managed by a regulated financial institution. This backing ensures that for every GYEN issued, there is an equivalent amount of Yen secured in reserves, maintaining its 1:1 peg.
The process of minting GYEN begins when users deposit JPY with the issuer. In return, they receive an equivalent amount of GYEN tokens. Conversely, when users wish to redeem their GYEN for JPY, they can exchange their tokens back, and the issuer will burn the tokens, reducing the total supply. This model ensures that the supply of GYEN remains closely aligned with the underlying fiat currency, promoting stability and trust among users.
GYEN has several key use cases that make it attractive to users:
To ensure the security of your GYEN holdings, consider the following best practices:
Investing in GYEN (GYEN) or any other cryptocurrency involves several steps:
1. Choose a Reliable Exchange: Select a reputable cryptocurrency exchange platform like Coinbase, Binance, or Okx. These platforms allow you to buy, sell, and trade cryptocurrencies.
2. Create an Account: Sign up for an account on your chosen exchange by providing the necessary personal information and completing the verification process.
3. Fund Your Account: Deposit funds into your exchange account using various methods like bank transfers, credit/debit cards, or wire transfers.
4. Buy GYEN: Once your account is funded, you can purchase GYEN directly from the exchange. Choose the desired amount and complete the transaction.
Botsfolio is a platform that automates cryptocurrency investments using trading bots. To invest in GYEN using Botsfolio, follow these steps:
Botsfolio allows you to automate your cryptocurrency investments, potentially saving time and effort while optimizing your trading strategies.
GYEN (GYEN) is currently trading at $0.006669 and exhibits good potential for future growth. Check the latest GYEN (GYEN) price prediction.
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