
The live price of PAX Gold is $4,461.33, with a total trading volume of $ 465,965 in the last 24 hours. The price of PAX Gold changed by +0.04% in the past day, and its USD value has decreased by -2.72% over the last week. With a circulating supply of 431,312 paxg, the market cap of PAX Gold is currently 1.92B USD, marking a +0.04% increase today. PAX Gold currently ranks #39 in market cap.
Pax Gold (PAXG) is a gold-backed cryptocurrency, launched by the creators of Paxos Standard (PAX) in September 2019. As an ERC-20 token operating on the Ethereum blockchain, Pax Gold is tradeable on a large variety of exchanges and has become an accessible way for traders to start investing in gold.
The main goal behind Pax Gold is to make gold more tradable, as the physical commodity is not easily divisible or flexible in terms of transport. This is why Paxos Standard decided to create a cryptocurrency entirely backed by gold. According to the official whitepaper, Pax Gold was created to allow investors to buy indefinitely small amounts of gold through the cryptocurrency, thus virtually eliminating minimum buy limits for the commodity.