Pax Dollar USDP

What USDP actually is on-chain

Pax Dollar is an ERC-20 deployed on Ethereum, at contract address 0x8e870d67f660d95d5be530380d0ec0bd388289e1. That address, not the ticker USDP, is what uniquely identifies this asset: anyone can deploy a second token calling itself USDP, but the contract is unforgeable. Verify it against etherscan.io before sending funds or approving a spend.

Because it lives on Ethereum, USDP is held in any EVM-compatible wallet, transfers are paid for in ETH rather than in USDP itself, and secondary liquidity sits in Uniswap-style AMM pools. Two consequences follow for anyone setting alerts: you need ETH in the same wallet to move the token at all, and a quoted price taken from a pool is a pool price — it includes slippage that an order-book quote would not.

2 other assets tracked on this site also use the ticker USDP: Parallel USDp (Base, 0x76A9…9dd5); United States Dominant Peg (Solana, rCDpCr…pump). The asset on this page is specifically the Ethereum deployment at 0x8e87…89e1. These are unrelated tokens with separate contracts, separate supply and separate price histories — a price alert set on one of them says nothing about the others, and a ticker search is not enough to tell them apart.

For USDP the project publishes a whitepaper, a public source repository and an active account as @PaxosGlobal. Both a written specification and readable code exist, which is a materially higher bar than most assets in this size range clear. None of it is a quality judgement about the asset; it is simply what can be independently checked before the chart is worth looking at.

Where USDP sits in the market

Ranked #573, Pax Dollar falls in the top of the small-cap band. The order book absorbs size poorly at this depth: one meaningful market order can reprice the tape by several percent before it retraces minutes later. A lone static price target therefore fires on noise, and what you want is a condition built to survive that wick. Venue coverage is narrow, which makes volume-based delisting a concrete risk rather than a theoretical one.

CryptoPingAi is currently streaming 2 live USDP order books (Gate.io, HTX). That is coverage in line with a #573 ranking: enough books to cross-check a quote, few enough that one of them can dominate price formation for hours at a time. None of the books we see for USDP are regulated US or Korean venues, so this is an offshore-quoted asset — availability, and the price itself, depend on which jurisdiction you trade from.

USDP against its all-time high

USDP sits 17.9% under its $1.18 peak (on 2024-04-16) — a normal correction inside a cycle rather than a regime change. 1.22x restores the record, which a single quarter of trend can deliver. What matters at this depth is the shape of the pullback: the band above spot holds recent buyers, and whether they add or exit on the first retest usually settles the next leg. That high was set 3 years ago, recently enough that it still anchors how most current holders frame the asset.

USDP across its historical range

The recorded range is comparatively narrow: 1.37x between $0.8635 and $1.18. Either the price history is short, or the asset is designed not to move.

At 12.2% above its record low of $0.8635 (on 2021-05-19), USDP sits near the edge of its own price history. Nothing has traded beneath that level, so there is no support to reference, no volume shelf and no cost-basis cluster underneath. The low is old enough that it has held as a floor across multiple market regimes, which is a materially different situation from a low being freshly printed.

USDP supply and valuation data

Pax Dollar sits just outside the band where circulating and total supply are independently verified, so we hold a valuation figure for USDP but not an audited token count. What we do have is a fully diluted valuation of $40.6 million as of 2026-05-12. That places it in the top 10% by fully diluted value.

Since the figure is a snapshot rather than a live number, we do not reverse it into a supply count: the price has moved since it was taken, and that division would produce a confident but incorrect token count. For any per-token valuation, check the current supply on the project's own explorer first. The authoritative figure is the one etherscan.io reports for this contract.

What kind of asset USDP is

Pax Dollar is pegged to the US dollar, so the only price question that matters is whether the peg holds; trend and momentum readings on a dollar peg describe noise, not direction. It is backed by off-chain reserves, which moves the risk from smart-contract code to custody and disclosure: who holds the reserves, what they are held in, and how often that is attested. Those are the questions that decide whether the peg survives a redemption wave. It is small for a stablecoin, and at this size the peg depends heavily on one or two liquidity pools; thin-book depegs here say more about liquidity than about solvency.

CoinGecko files USDP under 7 categories, including Stablecoins, USD Stablecoin, Solana Ecosystem, Ethereum Ecosystem, Multicoin Capital Portfolio. CoinGecko also records deployments on Solana (3,129 tracked tokens), Ethereum (3,072 tracked tokens), so on-chain liquidity is split across several networks and the cheapest venue depends on which deployment you are trading. Worth flagging from the metadata: USDP appears in the Multicoin Capital portfolio.

How to set a Pax Dollar alert that is worth receiving

Pax Dollar is the ERC-20 at 0x8e87…89e1 on Ethereum — quoted on 2 venues we stream — high dated 2024-04-16 — rank #573. On this profile the condition that carries signal is a peg-deviation band of roughly ±0.5% of par, with RSI ignored entirely.

Full alert-design method: thresholds, RSI/MACD and volume conditions →