PAXG (PAX Gold) rose 1.57% in the last 24 hours.

Gate News Bot message, on October 14, according to CoinMarketCap data, PAXG (PAX Gold) is currently priced at 4142.66 USD, with a rise of 1.57% in the last 24 hours, reaching a high of 4201.26 USD and a low of 3727.30 USD. The 24-hour volume has reached 342 million USD. The current market capitalization is approximately 1.27 billion USD, an increase of 19.7 million USD compared to yesterday. Currently, PAXG ranks 63rd in the market capitalization of Crypto Assets.

PAXG is a digital token backed by physical gold, with each PAXG token supported by one ounce of investment-grade physical gold certified by the London Bullion Market Association (LBMA), stored in LBMA vaults in London. PAXG holders own the underlying physical gold, held in custody by Paxos Trust Company. PAXG provides investors with an economical way to own investment-grade physical gold while enjoying all the advantages of blockchain.

Important news about PAXG recently:

1️⃣ Tokenized gold market capitalization hits a new high The market capitalization of tokenized gold has reached a historical high of approximately $3.09 billion, with a 24-hour rise of 0.7%. Among them, PAX Gold (PAXG) has a market capitalization exceeding $1.231 billion, indicating investors' continued preference for digital gold assets.

2️⃣ PAXG decentralized volume surge In September, the monthly trading volume of PAXG on decentralized exchanges (DEX) reached a historical high of 118.1 million USD. Uniswap and Curve became the main trading venues, reflecting a significant increase in investor demand for PAXG through DeFi platforms.

3️⃣ Gold price breaks through the $4000 mark The price of physical gold has surpassed the $4,000 mark for the first time, with a year-to-date rise of 54%, outperforming Bitcoin's 31% increase during the same period. As a gold token, PAXG's price directly benefits from the strong performance of physical gold, attracting investors seeking safe-haven and value preservation.

PAXG serves as a convenient tool for native investors in the Crypto Assets market to participate in the gold market, with its price and volume rise reflecting an increased demand from investors for traditional safe-haven assets like gold during periods of market turbulence. At the same time, the rise in decentralized volume indicates that PAXG is gaining broader application and acceptance within the DeFi ecosystem.

This message does not constitute investment advice; investors should be aware of market volatility risks.