As the price of gold is about to break its peak from April, the size of the market of cryptographic tokens supported by the precious metal has already reached new peaks of all time.
The overall market capitalization of token gold exceeded $ 2.57 billion, show Coindecko data, while the two main offers, the PAXG tokens from Tether de Tether and Paxos, recently saw large -scale inputs. The two tokens are designed to follow the price of gold and are supported by physical bars held in the chests.
Xaut (Xaut)Emitted by the company, which is at the origin of the USDT Stablecoin, saw a jump of $ 437 million in its supply to a record of $ 1.3 billion, by Coingecko. The Treasure of Tether struck 129,000 tokens in early August in the Ethereum network, according to the blockchain data by Etherscan.
Paxg (Paxg)The Golden Back token of the Stablecoin firm based in the United States Paxos, inflated to a record market size of $ 983 million, according to Defilma data. This has been fueled by net $ 141.5 million in the token since June.
Gold has currently exchanged $ 3,470, a little less from the peak April 22 in the middle of the price.
The precious metal, which is widely considered as a safe refuge in period of uncertainty, has resurfaced recently, driven by a yield curve of the American treasury.
Read more: Gold’s Rally has a big catalyst, and it could also help Bitcoin
