Arcane Research: Gold-pegged cryptocurrency market cap tops $1 billion for the first time

Time：2022-03-12 Source： 1329 views Mining Copy share

According to the latest industry report released by Arcane Research, PAX Gold (PAXG), Tether Gold (XAUT) and similar precious metal-backed cryptocurrencies have seen a sharp rise in market capitalization as investors seek “decentralized inflation” in the cryptocurrency space. It exceeded $1 billion for the first time, and the increase has reached 60% so far in 2022. Among them, the market value of PAX Gold has exceeded $600 million, an increase of 85% year-to-date, while the market value of Tether Gold has increased by about 9.2% this year.

Arcane Research noted that rising gold prices are attracting more crypto investors to gold-backed cryptocurrencies as they allow crypto investors to spread inflation through familiar crypto market infrastructure

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