How does the price of a gold token track the price of gold instead of following the crypto market?
PAXG is an ERC-20 token on Ethereum, and on-chain transfers also require ETH for gas fees.
Gold token prices mainly fluctuate with the price of gold, which can itself rise and fall sharply. Don’t treat gold tokens as stablecoins.
$PAXG Each token represents 1 troy ounce of physical gold stored in a London vault. Current price: 4170.56.
Has anyone else run into similar pitfalls? Share your experience to help warn others.
#PAXG
PAXG is an ERC-20 token on Ethereum, and on-chain transfers also require ETH for gas fees.
Gold token prices mainly fluctuate with the price of gold, which can itself rise and fall sharply. Don’t treat gold tokens as stablecoins.
$PAXG Each token represents 1 troy ounce of physical gold stored in a London vault. Current price: 4170.56.
Has anyone else run into similar pitfalls? Share your experience to help warn others.
#PAXG