PAXGold
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What Is PAX Gold (PAXG)?
PAX Gold (PAXG) stands as an ERC-20 stablecoin, backed by physical gold reserves securely stored in London vaults. Offering an accessible pathway to gold investment, PAXG enables users to own fractional amounts of physical gold without the burden of storage and transportation costs. This digital asset can be traded on both centralized crypto exchanges and decentralized exchanges (DEXs).
Gold has retained its value as a precious commodity for millennia, serving various purposes like jewelry, a store of value, and a hedge against inflation. Nonetheless, purchasing physical gold can prove costly and cumbersome, particularly for retail investors. Storing gold necessitates secure locations, often in bank vaults, and transporting it becomes challenging due to its weight.
Paxos Trust Company seeks to address these hurdles by introducing PAX Gold (PAXG), a tokenized representation of gold integrated into the blockchain. Each PAX Gold token is equivalent to one troy ounce of a 400-ounce London Good Delivery gold bar, safeguarded in reputable gold vaults like Brink’s. As PAXG represents physical gold, its value directly aligns with the real-time market value of the underlying gold.
Regulated and approved by the New York State Department of Financial Services, PAXG maintains transparency and accountability. Regular third-party audits verify that Paxos’ gold reserves align with the supply of PAXG tokens, with attestation reports publicly accessible on Paxos’ official website. Additionally, PAXG’s developers conduct regular smart contract audits to identify and rectify potential bugs and vulnerabilities.
By combining the benefits of blockchain technology with the stability of physical gold, PAX Gold offers an innovative and efficient way for investors to participate in the gold market while bypassing traditional barriers and complexities associated with owning physical gold.
#WebGTR #PAXGold #PAX #blockchain #crypto
Gold has retained its value as a precious commodity for millennia, serving various purposes like jewelry, a store of value, and a hedge against inflation. Nonetheless, purchasing physical gold can prove costly and cumbersome, particularly for retail investors. Storing gold necessitates secure locations, often in bank vaults, and transporting it becomes challenging due to its weight.
Paxos Trust Company seeks to address these hurdles by introducing PAX Gold (PAXG), a tokenized representation of gold integrated into the blockchain. Each PAX Gold token is equivalent to one troy ounce of a 400-ounce London Good Delivery gold bar, safeguarded in reputable gold vaults like Brink’s. As PAXG represents physical gold, its value directly aligns with the real-time market value of the underlying gold.
Regulated and approved by the New York State Department of Financial Services, PAXG maintains transparency and accountability. Regular third-party audits verify that Paxos’ gold reserves align with the supply of PAXG tokens, with attestation reports publicly accessible on Paxos’ official website. Additionally, PAXG’s developers conduct regular smart contract audits to identify and rectify potential bugs and vulnerabilities.
By combining the benefits of blockchain technology with the stability of physical gold, PAX Gold offers an innovative and efficient way for investors to participate in the gold market while bypassing traditional barriers and complexities associated with owning physical gold.
#WebGTR #PAXGold #PAX #blockchain #crypto
Coinone has officially listed Pax Gold (PAXG) on its Korean won market. Starting today, users can make deposits of PAXG at 10:00 AM KST, and withdrawals will be available from 5:00 PM KST. This listing provides Coinone users with the opportunity to trade PAXG against the Korean won, expanding the platform's range of cryptocurrency offerings. Pax Gold is a digital representation of physical gold, making it an interesting addition to the exchange's portfolio. 🚀📈💰 #Coinone #PAXGold #KoreanWon #CryptocurrencyExchange
Geopolitical Turmoil Spurs Crypto Investors' Exodus to Gold. 🪙💰🌟
This weekend witnessed a remarkable shift in investor behavior as escalating geopolitical tensions prompted a surprising migration from crypto to gold. Notably, Paxos's representation of gold (PAXG) skyrocketed by over 40%, surpassing $3.3k per troy ounce on select exchanges.
Despite Bitcoin's often-touted status as a safe haven asset, it faltered during the recent crisis, leading many to perceive gold as a more dependable store of value. Gold's extensive history as a safe haven, spanning millennia, contrasts sharply with Bitcoin's comparatively brief existence. Additionally, historical investor tendencies favor gold and cash during times of uncertainty, hinting at a prevailing perception among crypto investors that Bitcoin is more akin to a risk-on investment rather than a reliable store of value.
Bitcoin has seen a significant downturn, down 16% from its all-time highs, with a continued decline throughout the week. In contrast, gold sits only 1.5% below its Friday peak and has displayed resilience since Sunday's trading commenced. The relative valuation of Bitcoin against gold has plunged by 18% in April, underscoring a palpable shift in market sentiment towards risk-off assets.
This recent trend of crypto investors seeking refuge in traditional safe haven assets like gold during times of uncertainty prompts reflection on Bitcoin's status as a store of value. The flight to safety among market participants indicates a prevailing lack of bullish sentiment, with uncertainty casting a shadow over the future trajectory of risk assets.
source: Jack Inabinet | Bankless
#gold #Paxos #PAXGold #bitcoin #Bankless
This weekend witnessed a remarkable shift in investor behavior as escalating geopolitical tensions prompted a surprising migration from crypto to gold. Notably, Paxos's representation of gold (PAXG) skyrocketed by over 40%, surpassing $3.3k per troy ounce on select exchanges.
Despite Bitcoin's often-touted status as a safe haven asset, it faltered during the recent crisis, leading many to perceive gold as a more dependable store of value. Gold's extensive history as a safe haven, spanning millennia, contrasts sharply with Bitcoin's comparatively brief existence. Additionally, historical investor tendencies favor gold and cash during times of uncertainty, hinting at a prevailing perception among crypto investors that Bitcoin is more akin to a risk-on investment rather than a reliable store of value.
Bitcoin has seen a significant downturn, down 16% from its all-time highs, with a continued decline throughout the week. In contrast, gold sits only 1.5% below its Friday peak and has displayed resilience since Sunday's trading commenced. The relative valuation of Bitcoin against gold has plunged by 18% in April, underscoring a palpable shift in market sentiment towards risk-off assets.
This recent trend of crypto investors seeking refuge in traditional safe haven assets like gold during times of uncertainty prompts reflection on Bitcoin's status as a store of value. The flight to safety among market participants indicates a prevailing lack of bullish sentiment, with uncertainty casting a shadow over the future trajectory of risk assets.
source: Jack Inabinet | Bankless
#gold #Paxos #PAXGold #bitcoin #Bankless
PAX Gold (PAXG) is a gold-backed cryptocurrency that combines the benefits of physical gold ownership with the convenience and flexibility of a digital asset. Each PAXG token represents one fine troy ounce of gold stored in secure vaults.
Here are some key features of PAX Gold:
- Gold-backed: Each token is backed by physical gold reserves.
- Stable value: The value of PAXG is pegged to the price of gold.
- Digital ownership: Allows for easy transfer and storage.
- Low fees: Lower fees compared to traditional gold investment methods.
- Transparent: Audited regularly to ensure the gold reserves match the number of tokens in circulation.
PAX Gold offers a unique way to invest in gold, making it more accessible and convenient for investors.
#AirdropGuide #BTCFOMCWatch #CPIAlert #BTC #PAXGold $PAXG $BTC $ETH
Here are some key features of PAX Gold:
- Gold-backed: Each token is backed by physical gold reserves.
- Stable value: The value of PAXG is pegged to the price of gold.
- Digital ownership: Allows for easy transfer and storage.
- Low fees: Lower fees compared to traditional gold investment methods.
- Transparent: Audited regularly to ensure the gold reserves match the number of tokens in circulation.
PAX Gold offers a unique way to invest in gold, making it more accessible and convenient for investors.
#AirdropGuide #BTCFOMCWatch #CPIAlert #BTC #PAXGold $PAXG $BTC $ETH
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#MarketSentimentToday
Summary of Last Week:
📌
The news that the Central Bank of China stopped gold purchases and the rise in bond interest rates following the US data caused a decrease in the price of ounce gold. The European Central Bank reduced policy rates by 25 basis points due to the downward trend in inflation, making it the first interest rate cut in about five years. In light of these developments, the US 10-year bond interest completed the week at 4.4%, while the ounce price of gold fell below 2,300 dollars. Nasdaq gained 2.4%, S&P 500 gained 1.3% and Dow Jones gained 0.3%.
📈
Domestically, CPI exceeded expectations with 3.37% monthly and 75.45% annually. Minister of Treasury and Finance Mr. Şimşek stated that the worst in inflation is over and that a permanent decline will begin in June. It was stated that the work on the taxation of stock exchange and crypto assets has reached the final stage and it is planned to collect a tax on the transaction instead of withholding.
📊
After seeing the lowest point of 10,112 and the highest point of 10,610, BIST 100 index lost 2.5% of its value and completed the week at 10,138.97 points. While the technology index closed the week with a 2.6% gain, the services index lost 0.1%, the industrial index lost 2.4% and the banking index lost 6%. Gram gold rose to 2,382 levels following the withdrawal of ounce gold.
#BTC #PAXGold
Summary of Last Week:
📌
The news that the Central Bank of China stopped gold purchases and the rise in bond interest rates following the US data caused a decrease in the price of ounce gold. The European Central Bank reduced policy rates by 25 basis points due to the downward trend in inflation, making it the first interest rate cut in about five years. In light of these developments, the US 10-year bond interest completed the week at 4.4%, while the ounce price of gold fell below 2,300 dollars. Nasdaq gained 2.4%, S&P 500 gained 1.3% and Dow Jones gained 0.3%.
📈
Domestically, CPI exceeded expectations with 3.37% monthly and 75.45% annually. Minister of Treasury and Finance Mr. Şimşek stated that the worst in inflation is over and that a permanent decline will begin in June. It was stated that the work on the taxation of stock exchange and crypto assets has reached the final stage and it is planned to collect a tax on the transaction instead of withholding.
📊
After seeing the lowest point of 10,112 and the highest point of 10,610, BIST 100 index lost 2.5% of its value and completed the week at 10,138.97 points. While the technology index closed the week with a 2.6% gain, the services index lost 0.1%, the industrial index lost 2.4% and the banking index lost 6%. Gram gold rose to 2,382 levels following the withdrawal of ounce gold.
#BTC #PAXGold