Tokenized Gold Market Caps Grew Significantly Last Month as Fresh Demand Driv...
While gold tapped an all-time high (ATH) this year surpassing $2K per ounce, the top tokenized gold crypto assets by market valuation continue to see significant demand, premiums, and market capitalization growth. For instance, Paxos Trust Company’s PAXG market cap jumped more than 43% in 31 days from $424 million to today’s $611 million. PAXG and XAUT Market Caps Swell, Both Gold Tokens See Premiums Over Gold’s Spot Market Value On March 8, 2022, the price of one troy ounce of .999 fine gold reached an ATH at $2,069 per unit. A troy ounce is equivalent to 480 grains....
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15 months ago the price of one ounce of fine gold was $1,790 per ounce and since then, it has increased in value 3.51% to today’s $1,853 per ounce exchange rate. While gold has risen in value, the top two tokenized gold coins have grown significantly since then. Pax gold (PAXG), for instance, has seen its market capitalization grow 407% since February 26, 2021, and Tether’s XAUT market valuation swelled by 248% since that day. Presently, PAXG’s and XAUT’s market capitalizations combined equate to just over $1 billion in value.
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While reserve-backed crypto assets and stablecoin market valuations increased a great deal during the last year, gold-backed cryptocurrencies have also seen their market caps swell. Between the tokens tether gold and pax gold, the market valuations of these two gold cryptos are nearing a billion dollars in value with $742 million today. Tether Gold’s Market Cap Swells Over 19,000% in Less Than 2 Years, While Pax Gold Increased by More Than 15,000% On February 21, 2020, the market valuation of tether gold (XAUT) was $2.1 million and 23 months later, the valuation has increased by....
Bitcoin has now seen declining prices following the El Salvador Bitcoin law. The flash crash that had cleared at least $400 billion off the crypto total market cap has left lingering effects on the price of the digital asset. The price had plunged from $50,000 to $42,000 in less than an hour, leading to an 18% loss in about 30 minutes. While bitcoin has since recovered from its lows from the crash, the asset has not been able to recover to previous levels before the crash. Though the crash had affected most of the market, mid-cap coins have recovered the most from this. The Mid Caps Index....
As crypto-assets grew immensely in value last year, the growth of the stablecoin economy swelled as well and today, there’s $170.24 billion worth of stablecoins in circulation. Data indicates that over the last 12 months, a slew of stablecoin valuations grew exponentially. 12-Month Stats Show Stablecoin Market Valuations Saw Massive Growth Last year, numerous crypto assets touched all-time high (ATH) prices as current data highlights the crypto economy’s significant growth in 2021. Moreover, fiat-pegged tokens, commonly referred to as stablecoins, have also seen massive....
There is a substantial demand for tokenized bonds and real estate. The market for tokenized assets is rapidly growing, with a value that has surpassed $50 billion. Related Reading: Meme Coin Platform Pond.fun Loses 65 ETH In Insider Job Real estate comprises a substantial portion, with tokenized properties totaling $30 billion. Financial analysts anticipate that […]