“Gold-Backed Cryptocurrencies Like Paxg and Xaut Rose Significantly So Far This Year, Mirroring a Spike in etf Demand.”, – WRITE: www.coindesk.com
Gold-Backed Cryptocurrencies Like Paxos Gold (Paxg) and Tether Gold (Xaut) Have Risen 24.15% and 23.7% Respectively Year-to-Date to New All-Time. Performance of Spot Gold. Their prices have a receded slightly to $ 3.265 and $ 3.244, Respectvely.
While Gold-Backed Cryptocurrencies Surged so Far this year, the wider cryptocurrency market have been in a downtrend. Bitcoin (BTC) HAS LOST THAN 11% OF ITS VALUE SO FAR This YEAR, WHILE The Wider Crypto Market Has Fallen by a Little Over 30%, Based On the Condesk 20 (CD20) Index.
The Tokens, Which Are Backed by Physical Gold and Track ITS PRICE, ExperienCed A Surge in Value As Investors Sounga Refuge from the UNCERTAINTYA INDUCED.
The MOVE ECHOES A BROADER RETURN to GOLD AS A SAFE-HAVEN Asset. Inflows Into Gold Etfs Hit 226.5 Tonnes in the First Quarter of 2025, The Highest Level Since Early 2022, Accounting To Data From The World Gold Council. Nearly 60% of that Demand Came from North America.
Similarly, Gold-Backed Cryptocurrencies Saw Net Token Minting of Over $ 42.7 Million in the First Quarter of the Year, Accounting To Data from Rwa.xyz, Helping ALONG WITH WIT Total Market Capitalization Near $ 1.4 Billion.
