GYEN is one of the new crypto out there that has been making a big splash recently. It has been doing well in the crypto markets, despite the fact that the price is still quite low. The future is looking bright for this project, so if you’re interested in buying GYEN crypto, then read on to find out more about it.
Is GYEN a Coin?
GYEN is a stable coin built on the Ethereum blockchain, backed by the Japanese Yen (JPY). According to its website, GYEN crypto is the first regulated digital JPY. This ERC-20 token is issued by GMO-Z.com Trust Company Inc (“GMO Trust”) and strictly pegged 1:1 to the Japanese Yen. The GYEN stablecoin is 100% fiat-backed. Meaning, the coin is 100% backed by the physical currency (JPY), which you can trade online in real-time at any GYEN-accepting exchange.
As per the whitepaper, the stablecoin is introduced to "alleviate the problems inherent with unregulated and non-fiat backed stablecoins. Moreover, the GYEN crypto offers high liquidity. You can always redeem 1 GYEN for 1 JPY directly with GMO Trust, or by trading with other digital assets on exchanges that list the stablecoin.
Read More: Big Bull Crypto: What Is Big Bull Crypto And What Is Big Bull Crypto Price?
How Much is GYEN Crypto?
Following the listing on Coinbase, GYEN crypto's price skyrocketed to $0.014 USD from $0.0088 USD. At the time of writing, the price of GYEN is $0.008865 USD with a 24-hour trading volume of $31,588,817 USD. The coin is up 0.42% in the last 24 hours and is ranked #917 on CoinMarketCap with a live market cap of $19,780,401 USD. Furthermore, it has a circulating supply of 2,231,211,096 GYEN coins.
If you would like to buy GYEN, the top cryptocurrency exchanges for trading in GYEN stock are currently Coinbase Exchange, Gate.io, and Liquid. Some people think GYEN crypto has the potential to make it big in the future. They believe that the price of the coin will go up significantly in the future.
However, always keep in mind that there are always risks when trading in cryptocurrencies. The price of GYEN crypto may fall dramatically if the market changes. For this reason, always do your research and learn as much about crypto as possible before entering into any trade.
Check back here soon for more updates on GYEN crypto!