Paxos’ gold token rakes in record inflows as crypto investors turn to the yellow metal
Record inflows and market cap growth
Paxos Gold (PAXG) posted a record inflow of $248 million in January, boosting its market cap to $2.2 billion. This significant inflow highlights growing investor interest in tokenized gold as a digital asset.
Tokenized gold market performance
Crypto tokens backed by gold booked $178 billion in trading volume last year, surpassing all but one major gold ETF, according to a report. This demonstrates the rising popularity and liquidity of tokenized gold in the market.
Market leadership and trading volume
PAXG has expanded its leadership position as the largest, most liquid gold-backed digital token. It recorded about $533 million in 24-hour trading volume, further solidifying its position in the digital gold space.
Price milestones and investor sentiment
Gold has reached historic price levels, exceeding $4,700 per ounce for the first time in history. This surge has driven investor sentiment toward gold-backed assets, with crypto investors increasingly turning to tokenized gold as a safe-haven asset.