Paxos Gold (PAXG) sees record $248 million inflow in January
Paxos Gold (PAXG) recorded $248 million in fresh capital inflows during January as crypto investors sought the yellow metal as a store of value.Summary
Paxos Gold (PAXG), which is backed by physical gold held in London's LBMA vaults, attracted a record $248 million in new capital throughout January, pushing its market capitalization past $2.2 billion. This surge in inflows coincides with a significant rally in the price of physical gold, which crossed $5,300 per ounce and gained 22% in January. In contrast, Bitcoin has seen a decline over the past year, leading some crypto investors to shift focus to tokenized gold for protection amid macro uncertainty. Experts note that tokens like PAXG enhance gold's utility through improved transferability and divisibility, while Bitcoin trades more like a risk asset. The overall tokenized gold market has now surpassed $5.5 billion, reaching an all-time high.
(Source：CoinDesk)