What to know:
- PAXG and XAUT are up more than 23% year-to-date, matching gold’s rally and outperforming the wider crypto market. Talk about a golden opportunity! 🏆
- Tokenized gold offers crypto investors exposure to real-world assets with blockchain-based liquidity. It’s like having your cake and eating it too! 🎂
- Demand for gold ETFs hit a three-year high in Q1, signaling a broader flight to safety. Who knew gold could be so popular? It’s like the prom queen of investments! 👑
As traditional gold markets heat up, crypto investors are following suit—flocking to tokenized versions of the precious metal that offer both price exposure and digital flexibility. It’s like a gold rush, but with fewer pickaxes and more keyboards! 💻
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 highs above $3,300. They’re practically doing the cha-cha with spot gold! 💃 Their prices have since receded slightly to $3,265 and $3,244, respectively. But hey, who doesn’t love a little drama?
While gold-backed cryptocurrencies surged so far this year, the wider cryptocurrency market has been in a downtrend. Bitcoin (BTC) has lost more than 11% of its value so far this year, while the wider crypto market has fallen by a little over 30%. Ouch! That’s gotta hurt! 😬
The tokens, which are backed by physical gold and track its price, experienced a surge in value as investors sought refuge from the uncertainty induced by the escalating U.S.-China trade war. It’s like hiding under your bed during a thunderstorm! ⛈️
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, according to data from the World Gold Council. Nearly 60% of that demand came from North America. Gold is the new black! 🖤
Similarly, gold-backed cryptocurrencies saw net token minting of over $42.7 million in the first quarter of the year, according to data from RWA.xyz, helping along with gold’s price appreciation raise their total market capitalization near $1.4 billion. That’s a lot of bling-bling! 💎
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2025-04-13 22:22