$PAXG I lost everything by recent PAXG’ depegging.
I call on the Paxg platform and Binance.
The recent depegging of Paxg during the market crisis is not a mere incident.
If the Paxg platform cannot technically resolve the depegging issue, high leveraged futures trading should be suspended.
If another market crisis occurs, Paxg will depeg and collapse again.
Currently, Paxg investors remain exposed to liquidation risk.
Although I suffered from the recent PAXG depegging, I still believe in the future of PAXG and Binance.
My faith in PAXG stemmed from its link to gold — I believed it was as safe as a bank deposit, which led me to invest even more funds.
Now I realize it was careless to ignore the inherent instability of cryptocurrencies and to trust too deeply in PAXG’s stability. Unexpected market risks can occur at any time, and I put too much faith in its peg.
I ask PAXG for one thing: please strengthen your technological development to ensure such issues never happen again.
I believe the challenge of PAXG and RWA must continue — because it represents the dream of cryptocurrency investors.
Lastly, I would like to express my gratitude to Binance for their efforts to resolve this issue.
$PAXG In the recent market crisis, XAU and Bybit succeeded in hedging risk, while PAXG and Binance failed. Is this an issue with PAXG itself, or a problem with Binance's liquidation system?
$PAXG PAXG has been found to have a serious flaw. During the market crash on October 10,while XAU — which is similarly pegged to gold — performed as expected and acted as a hedge, PAXG experienced a simultaneous crash, revealing a systemic issue. If another market crash occurs in the future, PAXG may once again fail to track the price of gold and collapse instead. PAXG has therefore lost its qualification as an RWA (real-world asset). Moreover, the PAXG platform should have properly warned the public about this critical flaw — and must continue to do so going forward.
Some traders are calling $PAXG a scam after the October 10–11 shakeout — but let’s get the facts straight 👇
🟡 PAXG is pegged to gold, yes, but it’s still a crypto asset, not physical gold bars. That means it can fluctuate with market sentiment and liquidity swings — just like any other token.
📊 This wasn’t the first dip either! Back in April 2024, $PAXG faced even sharper volatility, yet it bounced back stronger and faster than most altcoins. That resilience shows real market confidence. 💪
⚙️ Pro Tip for Traders: If you’re trading leveraged positions, allow room for at least 30% volatility — otherwise, stick to spot and avoid liquidation traps. 🎯