2 gold-covered crypto-assets reach a market capitalization of almost $ 1 billion, Xaut increases by 19,000 % in 23 months-old coins
2 gold-covered crypto-assets reach a market capitalization of almost $ 1 billion, Xaut increases by 19,000 % in 23 months-old coins
While the market reviews of reserve-supported crypto-assets and stable coins have increased significantly last year, the market capitalization of gold-assisted cryptocurrencies has also increased. Between the tokens Tether Gold and Pax Gold, the market ratings of these two gold cryptos approach $ 742 million today.
On February 21, 2020, the market evaluation of Holding Gold (xaut) was 2.1 million US dollars and 23 months later the valuation is for 410 million etc. increased. Since March 24, 2020 or 672 days ago, Pax-Gold (Paxg) has seen its market capitalization of US-Dollar today. The increase in the gold-covered crypto token Paxg in the past 22 months was around 15,022 %. Both projects claim that it is covered with an ounce of fine gold of 0.999, which means that the Xaut 223.921 ounces should contain fine gold. Paxg's reserves are likely to be around 181,321 ounces of the precious metal. According to the PAXG specifications, the token is stored with a fine troy ounce of a London Good Delivery Goldbarren. While both gold -covered tokens have had a significant increase in market capitalization in the past two years, the trade volume is low. The XAUT trading volume on January 25 is $ 1.5 million, while PAXG has $ 16.1 million in 24-hour trade. Tether gold has only three large trading pairs, including Tether ( usdt ) with 66.92 % of all trades today, USD with 26.69 % and bitcoin with 6.39 % of today's Xaut-Swaps. The data show that Bitfinex and FTX are the most active Xaut exchanges. Pax Gold has much more trading pairs with usdt captures most paxg swaps with 46,70 % of today's Paxg-trades. This is followed by bitcoin (20.27 %), USD (12.52 %), Weth (8.13 %), EUR (7.19 %) and eth (3,22 %). Binance is the most active stock exchange of Paxg, followed by Kucoin and Crypto.com. In addition to xaut and paxg the gold-covered tokes Perth mint goldtoken (pmgt) and Digix Gold (DGX) Both have market capitalization of over $ 1 million each. PMGT has a market capitalization of $ 1.7 million and DGX today has $ 1.1 million. 100 % of the PMGT trades are handled in AUD via the independent reserve, while a large part of the DGX swaps in the Indonesian Rupiah (IDR) are handled over the IndoDax stock exchange. While PMGTs like Xaut and Paxg are also physical gold covered by a provision, DGX tokens are covered by a gram of gold from the LBMA (London Bullion Market Association). According to the Digixdao team, the assets are kept in a safe house in Singapore. pmgt and DGX have not experienced the growth that Xaut and Paxg saw. On March 12, 2020, PMGT had a market rating of $ 177,205 and has increased by 859 % since then. DGX had a market rating of $ 1.2 million in May 2018, and today the evaluation is approximately the same. What do you think about the growth of the gold -covered Token Xaut and Paxg? Let us know your opinion on this topic in the comment area below. Bedy verification : Shutterstock, Pixabay, Wiki Commons, Tradingview, The market capitalization of Tether Gold increases in less than 2 years by over 19,000 %, while Pax added gold by more than 15,000 %
The market reviews of PMGT and DGX are much smaller than that of the competitors
