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As the market suffers from FTX’s liquidity crisis, PAX Gold (PAXG), a commodity-backed crypto, continues to lead weekly gains. The 65th largest crypto by market cap was seen keeping a week-on-week gain of 5.26% and an intraday gain of 1.12%. Based on current market movement, PAX Gold is the week’s
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According to the blockchain infrastructure company Paxos, the firm has frozen 11,184.38 pax gold (PAXG) tokens held on the platform FTX.com. The regulated token issuer noted that it was directed to freeze the PAXG tokens after “direction from U.S. federal law enforcement.” Paxos Complies With U.S. Law Enforcement Request to Freeze
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In recent years, nonfungible tokens (NFTs), cryptocurrencies and other modern investment options have become trendy. However, physical commodities such as gold are still in high demand. In 2021, the global market capitalization for cryptocurrency surpassed $2 trillion. Now, investors must ask themselves: which option should I choose — crypto or
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"This reflects BTC's increasing correlation with macro stock indices as well as its recent behavior as a risk asset rather than a store-of-value, and points to price turbulence ahead as markets digest the impact of further inflation and liquidity withdrawals," Noelle Acheson, head of market insights at CryptoX's sister concern
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