Price change (24h):
1.70%
High (24h):
$1.28
Low (24h):
$1.22
Volume (24h):
$372.44
Market Cap:
$2.83M
All Time High:
77.44% $5.60
May 29, 2023
All Time Low:
103% $0.62
Jun 9, 2024
Parallel
PAR12.09 %(1Y)
$1.26
About Parallel
Parallel (PAR) is a cryptocurrency launched in 2021. It functions as a decentralized Euro-pegged stablecoin, issued through the collateralized debt position (CDP) mechanics of the Mimo Protocol.
Mimo Protocol assembles a factory for permissionless Euro liquidity across decentralized finance. It fills a persistent void in on-chain markets—the severe underrepresentation of non-USD fiat-pegged assets—by letting users mint PAR solely against crypto collateral. No bank, no centralized issuer, no custodial intermediary enters the loop.
Parallel operates as a multi-chain token on the Ethereum, Polygon, and Fantom networks. Each deployment aligns with the native token standard of its host chain, staying fully EVM-compatible. The protocol’s smart contracts lock collateral and originate PAR, inheriting finality and settlement from the underlying blockchains directly.
The token contracts are open-source and verified on all three networks, exposing vault logic and liquidation parameters to public audit. A hard overcollateralization requirement absorbs the volatility of deposited assets, with automated liquidations stepping in when a vault’s health factor drops below the safety threshold. Governance token vMIMO holders adjust stability fees and collateral types, steering the protocol’s economic parameters without any central operator.
Mimo Protocol launched in January 2021 under Mimo Labs, a development entity registered in the United Kingdom. Founders remain publicly unnamed, but the organization has published a formal whitepaper and maintains an active code repository under the mimo-capital GitHub organization. PAR debuted on Ethereum and rapidly deployed to Polygon and Fantom, tracking the expansion of multichain DeFi activity after the summer of 2020.
The deep purpose is to detach Euro-referenced on-chain value from the constraints of fiat banking infrastructure and single-entity custody. By mirroring the collateralized stability model that popularized decentralized dollars, PAR constructs a trust-minimized instrument for Euro-denominated lending, borrowing, and real-time settlement across EVM ecosystems.
PAR is the minted debt token inside Mimo vaults. A user deposits accepted collateral—such as wrapped ether or wrapped bitcoin—and draws PAR up to a protocol-enforced borrowing limit. Every unit of PAR represents a pro-rata claim on the locked collateral pool and remains fully redeemable; burning PAR at any moment unlocks its proportional backing. This redeemability creates a mechanical price anchor, allowing arbitrage flows to enforce the one-Euro peg without discretionary intervention.
Arbitrageurs exploit redemption and minting to capture spreads whenever market prices deviate from par. Liquidity providers supply PAR to decentralized exchange pools on SushiSwap and Curve, collecting fees from Euro-stablecoin swap volume. Meanwhile, collateral-rich traders mint PAR against idle holdings to extract Euro liquidity while retaining directional exposure to their underlying crypto assets.
Parallel has a total supply of 2,240,894 tokens. Currently, 2,240,894 are in circulation, all minted across the protocol’s multi-chain vaults. With a market capitalization of $2,730,522, Parallel ranks #2,074 among all cryptocurrencies.
Parallel Historical Price Data
| Date | Open | Close | High | Low |
|---|---|---|---|---|
| 13/06/2026 | $1.22 | $1.28 | $1.28 | $1.22 |
| 12/06/2026 | $1.23 | $1.22 | $1.26 | $1.21 |
| 11/06/2026 | $1.23 | $1.23 | $1.24 | $1.21 |
| 10/06/2026 | $1.22 | $1.23 | $1.23 | $1.21 |
| 09/06/2026 | $1.22 | $1.22 | $1.24 | $1.20 |
| 08/06/2026 | $1.21 | $1.22 | $1.25 | $1.20 |
| 07/06/2026 | $1.20 | $1.21 | $1.23 | $1.19 |
| 06/06/2026 | $1.22 | $1.20 | $1.23 | $1.20 |
Why is manual trading Parallel a bad idea?
Manual par trading
- Miss perfect entry/exit
- Emotional decisions
- Huge time to monitor
Stoic AI
-
AI trades 24/7 automatically Catch every opportunity
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Zero-emotion algorithm Disciplined strategy
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Passive income Set & forget automation
20,000+
traders trusted Stoic AI
$200M+
in cumulative assets under management since inception
2015
year of company foundation
FAQ
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Parallel (PAR) is a cryptocurrency that can be bought, sold, and traded on major exchanges. Its price changes in real time based on supply, demand, and broader market conditions. You can track the live PAR price, market cap, and 24-hour trading volume at the top of this page.
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The current price of Parallel (PAR) is $1.26. Over the last 24 hours, it has moved 1.70%. Crypto prices update continuously, so short-term changes can happen quickly.
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You can buy Parallel on major exchanges like Binance, Coinbase, or KuCoin. However, simply buying and holding can be risky due to market volatility.
The smartest way to manage your PAR investment is to connect your exchange account to Stoic AI. This allows you to keep funds on your preferred exchange while our institutional-grade algorithm automates the trading strategy for you, aiming to outperform manual trading. -
Stablecoins (like PAR) are designed to maintain a stable value, usually pegged to a fiat currency like the US dollar. While their price typically stays close to the peg, they can occasionally depeg due to market stress, liquidity issues, or concerns about reserve backing.
Many traders use stablecoins as a safe haven during crypto market volatility or as a convenient way to move funds between exchanges. -
We can’t provide investment advice. Whether Parallel is a good investment depends on your risk tolerance, time horizon, and strategy. Crypto markets are highly volatile and past performance doesn't guarantee future results. Many investors reduce risk by diversifying across multiple assets and using automated strategies that remove emotional decision-making. Always do your own research before investing.
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Common approaches include buy & hold, discretionary trading based on technical analysis, or automated strategies. Manual trading can be difficult due to fees, timing, and emotional decisions. Stoic AI offers an out-of-the-box automated approach: connect your exchange via trade-only API permissions, choose a strategy, and the system manages portfolio rebalancing 24/7.
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Stoic AI uses hedge fund-grade quantitative strategies developed by Cindicator, a fintech company with 9+ years of experience and $230M+ in assets under management. The algorithm analyzes price data, volatility, and correlations to build and rebalance a diversified portfolio. PAR can be included based on real-time market conditions. Over 18,000 customers already use Stoic AI to automate their crypto portfolios.
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With Stoic AI, your funds stay on your exchange (Binance, Coinbase, KuCoin, etc.) at all times. Stoic connects via read-and-trade-only API keys - it cannot withdraw your funds. The platform uses institutional-grade risk management and has been live-tested through multiple market cycles since 2020, including the 2022 crypto winter. You maintain full control and can disconnect at any time.
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You can start with as little as $500. There are no lock-ups and no hidden fees. You can try it now and withdraw your funds at any time. Create a Stoic account, connect your exchange using an API key with trading‑only permissions, choose a strategy, and start automated trading. You can stop anytime by revoking the API key on your exchange. Since the funds stay in your exchange wallet, you remain in control of deposits and withdrawals.
