PAX Gold (PAXG) Hits Self Reported Market Cap of $770.93 Million

PAX Gold (PAXG) traded down 0.1% against the dollar during the 24-hour period ending at 9:00 AM Eastern on May 13th. One PAX Gold token can now be bought for approximately $3,254.02 or 0.03136323 BTC on popular exchanges. Over the last seven days, PAX Gold has traded 4.5% lower against the dollar. PAX Gold has a market capitalization of $770.93 million and approximately $58.50 million worth of PAX Gold was traded on exchanges in the last 24 hours.

Here is how other cryptocurrencies have performed over the last 24 hours:

• Aidi Finance (BSC) (AIDI) traded down 2.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• SolvBTC (SOLVBTC) traded 0.6% lower against the dollar and now trades at $103,550.38 or 0.99805033 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 0.8% lower against the dollar and now trades at $102,745.76 or 0.99029519 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

PAX Gold Token Profile

PAX Gold’s launch date was August 29th, 2019. PAX Gold’s total supply is 236,917 tokens. PAX Gold’s official Twitter account is @paxosglobal and its Facebook page is accessible here. The official message board for PAX Gold is medium.com/paxos. PAX Gold’s official website is www.paxos.com/paxgold.

According to CryptoCompare, “PAX Gold (PAXG) is an asset-backed token where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities. Anyone who owns PAXG has ownership rights to that gold under the custody of Paxos Trust Company. Since PAXG represents physical gold, its value is tied directly to the real-time market value of that physical gold.PAXG gives customers the benefits of actual physical ownership of specific gold bars with the speed and mobility of a digital asset. Customers are able to have fractional ownership of physical bars.On the Paxos platform, customers can convert their tokens to allocated gold, unallocated gold, or fiat currency (and vice versa) quickly and efficiently, reducing their exposure to settlement risk. PAXG is also available for trading on Paxos’ itBit exchange. PAXG will also be available on other crypto-asset exchanges, wallets, lending platforms and elsewhere within the crypto ecosystem.”

Buying and Selling PAX Gold

It is usually not possible to purchase alternative cryptocurrencies such as PAX Gold directly using U.S. dollars. Investors seeking to trade PAX Gold should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase PAX Gold using one of the aforementioned exchanges.

PAXG/USD price chart by TradingView