Tether Seeks To Raise $200 Million For Tokenized Gold Treasury – Report
According to a recent report, the world’s largest stablecoin company, Tether, and a partner firm are looking to raise capital for a digital asset treasury company that would accumulate its tokenized gold. Tether To Launch Digital Asset Treasury Firm With XAUT: Report On Friday, October 3rd, Bloomberg reported that Tether and financial services firm Antalpha […]
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Sources Say Uniswap Is Eyeing a Fresh Capital Raise From Investors Like Polychain
According to four unnamed sources familiar with the matter, Uniswap is eyeing fresh capital from investors. The news stems from a report published by Tech Crunch....
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.
Pax Gold
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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....
PAX Gold did most of the weightlifting in pushing the gold token market cap above the $1 billion-milestone, outperforming Tether Gold. The market capitalization of gold-backed crypto tokens increased by 60% in 2022 to surpass $1 billion for the first time in history, according to Arcane Research in its latest weekly report. Gold shines, Bitcoin disappointsIn 2022, investors have been rushing to the perceived safety of gold-backed crypto assets, whose value is pegged to the price of gold. Namely, PAX Gold (PAXG), Tether Gold (XAUT), and similar precious metal-backed digital assets have been....