PAXG Token Sees 6.69% Drop Amid $2.1B Trading Surge and Institutional Hedging Moves

PAXG/USDT experienced a 6.69% decline over the last 24 hours, opening at 5515.99 and currently trading at 5147.03 on Binance. This price drop can be attributed to recent profit-taking following a week of strong gains, record inflows, and increased demand for tokenized gold assets, as well as large-scale withdrawals from exchanges by institutional investors seeking to hedge against market volatility. The heightened trading activity—over $549 million USDT in volume on Binance and a total 24-hour volume of approximately $2.1 billion—reflects ongoing market volatility and robust interest in PAXG, which maintains a market capitalization in the $2.15–$2.23 billion range.