According to Odaily Planet Daily, Paxos published an article on the X platform to analyze that since last weekend, the spot price of gold has fluctuated sharply, and the price of gold stablecoin PAXG on various exchanges has soared. Holding PAXG means directly owning the London Good Delivery Gold kept by Paxos in the London vault, 1 PAXG = 1 troy ounce of gold.
Yet on Friday, April 12, 2024, the spot price of 1 ounce of gold fluctuated by more than $100, an unprecedented situation. Each exchange is its own ecosystem with unique behaviors.
For example, the price of PAXG on DEX exchanges such as Uniswap is relatively stable, while the price of PAXG on CEX exchanges is more volatile, which is expected because liquidity varies from venue to venue.
