There are multiple factors that influence the value of Gold-backed cryptocurrencies. It is worth noting that stablecoins, such as USDT and USDC, are backed by fiat currencies, whereas gold-backed cryptocurrencies are supported by gold. These gold-backed coins are predicted to gain more popularity in the near future than other stable coins in the crypto market.
The US dollar has been increasing in value due to various reasons, but the value of gold has not seen significant fluctuations. As a result, it is anticipated that people may opt for gold-backed crypto instead of stable coins. Currently, there are several gold-backed coins available in the market, which have been launched by registered companies worldwide.
(DYOR before investing)
Here are some examples of gold-backed cryptocurrencies in the market:
PAXG (PAXO GOLD)
BXG (BITXGOLD)
GLC (GOLDCOIN)
PMGT XAUT
