Paxos Gold (PAXG) sees record $248 million inflow in January
Crypto investors are piling into tokenized gold as digital asset markets are treading water, sending inflows to Paxos’ gold token to a record in January.
Paxos Gold (PAXG), backed by physical gold held in LBMA vaults in London, raked in more than $248 million fresh capital through January, DefiLlama data shows. That lifted PAXG’s market capitalization over $2.2 billion, trailing only .
The wave of inflows coincide with gold enjoying a blistering rally. The precious metal crossed $5,300 per ounce on Wednesday, soaring 22% through January and gaining more than 90% in the past year. Meanwhile, bitcoin has slid over 10% in a year and the broader crypto market sunk
This dynamic has…
