PAX Gold
PAXG
$4,339.05
Current Price
-0.46%
24h Change
Info
PAXG
Symbol
$1.89B
Fully Diluted Valuation
$1.89B
Market Cap
54
Market Rank
434.50K
Total Supply
$189.19M
Total Volume
$4,369.08
24h High
$4,295.50
24h Low
About PAX Gold
PAX Gold (PAXG) is a digital asset designed to address the challenges of owning and trading physical gold, offering a modern solution that combines the stability of gold with the flexibility of cryptocurrencies. Its core mission is to democratize access to gold, enabling users to own fractionalized, tokenized gold without the complexities and costs associated with traditional gold ownership. Each PAXG token is backed by one fine troy ounce of a 400 oz London Good Delivery gold bar, stored in secure, audited vaults. This ensures that holders have legal ownership of the physical gold, providing a tangible asset in digital form that can be easily traded, transferred, and used across various platforms. Technologically, PAX Gold leverages the Ethereum blockchain, utilizing the ERC-20 token standard to ensure compatibility and interoperability within the decentralized finance (DeFi) ecosystem. This allows PAXG to be integrated seamlessly into a wide range of DeFi applications, including lending, borrowing, and trading platforms. Its transparency is ensured through regular third-party audits and adherence to stringent regulatory standards. PAXG's market position is strengthened by its growing adoption, strategic partnerships with leading exchanges and custodians, and recognition as a reliable digital asset for hedging against market volatility. By bridging the gap between traditional finance and blockchain technology, PAX Gold offers a unique proposition in the cryptocurrency landscape.
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FAQ
Information on this page is provided for informational purposes only and does not constitute investment advice. This is not a recommendation to buy or sell any digital asset or to employ any particular investment strategy. Backpack makes no representation as to the accuracy, suitability, or validity of the information provided.
Certain content is sourced from third parties not affiliated with Backpack. Backpack is not responsible for such content, nor is it liable for any errors, delays, or actions taken in reliance on it. Prices and data are for illustrative purposes only and may differ from actual market values. Digital assets involve significant risk and can fluctuate substantially. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition, and consult your own professional advisors for legal, tax, or investment guidance.
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