Paxos: Although spot gold prices fluctuate, the price of PAXG on DEX is more stable than that on CEX

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