With the rise from gold to new maximum historical prices, the tokens linked to their price also did. Among them are Tether Gold (Xaut) and Pax Gold (PaxG), because they are the ones with the greatest capitalization of this niche.
As the ounce of gold, Xaut and PaxG record a price increase of more than 6.79% in the last seven days. With this, They are already traded above 3,200 dollars (USD) for the first time in its history.
These tokens have a parity of 1: 1 with the ounce of gold, which makes them stablecoins. This term refers to digital assets that maintain the same value as an underlying asset, as is in this case the main precious metal that has historically been considered as a value refuge.
Currently, with a capitalization of USD 802 million, Tether Gold occupies the 74th place in the ranking of the most valuable cryptocurrencies and tokens. Meanwhile, Pax Gold is in the 81st position.
Instead, other cryptoactives that follow the price of gold have a much lower capitalization, located after the 220 step of the ranking. This can be verified in the following capture of the Coinmarketcap explorer, which shows the largest assets of this niche.
With the rise they experienced, Xaut and Paxg were positioned among the 17 digital currencies with better performance in the last week of the 100 with more capitalization. Next, you can see your ascent.
Gold exposure with cryptocurrencies can be had
Stablecoins that follow at the price of gold allow investors to expose themselves at their price without the need to possess or store the metal physically. This offers greater ease of transfer and divisibility with respect to traditional gold.
As his name advances, Tether Gold, who was launched in 2020, is a Token issued by the Tether company. This is the TETER USD (USDT) issuing company, the stablecoin with the highest market capitalization, which follows the value of the US dollar. Each Xaut unit represents an ounce of physical gold.
For his part, Pax Gold was issued in September 2019 by Paxos, a company that also offers a stablecoin anchored to the dollar, whose name is Pax Dollar (USDP). Like Xaut, every Paxg Token is backed by an ounce of physical gold.
While these assets are commonly called cryptocurrencies, it should be noted that they are actually tokens, since they do not have their own network. These work on the Ethereum network.
Why did gold get at new record prices?
The increase in gold has been influenced by the tariff policies of US President Donald Trumpeven despite his recent pause.
The president paused on Wednesday the taxes he put to imports, except for those from China. While this caused a rebound in actions and cryptocurrencies, The gold rise shows that there are still fears in the markets.
Historically, gold has risen in moments of macroeconomic uncertainty, as is currently. Trump’s tariff policies are generating fears that they encourage greater inflation in the United States and economic slowdown.
Anyway, as cryptootics reported it, the new annual underlying inflation report published this week recorded a decrease. This, together with the tariff pause, has contributed to the improvement of the feeling of the risk markets, so it will be key how it continues for the performance of gold and the cryptoactives that follow it.