According to ChainCatcher, stablecoin issuer Paxos announced that the market value of the gold-pegged stablecoin PAXG has reached a new high of US$500 million. Paxos said that each PAXG token is backed by 1 troy ounce of gold stored in the LBMA vault in London.
In addition, the spot gold price has been constantly refreshed recently, reaching $2,670 per ounce yesterday, setting a new historical high.
