The price of Grayscale Bitcoin Trust’s (GBTC) shares has soared to a one-year high amid renewed optimism on the potential launch of...

Leading stablecoin issuer Tether, the firm behind the USDT token, has recently revealed that it amassed $2.5 billion in excess reserves, and that it...

Leading stablecoin issuer Tether has announced a net profit of $1.5 billion for the first quarter of the year, more than doubling its performance...

Stablecoin Summary Stablecoins are important as a bridge between the traditional and crypto economy. For the crypto investor, they can offset the volatility of crypto, while...

In brief Stablecoins are cryptocurrencies "pegged" to a fiat currency. They can be used as stores of value or units of account, as well as in...

Tether, the world’s largest stablecoin provider, will add the offshore yuan-pegged stablecoin CNHT to Tron, the blockchain network founded by Justin Sun.Paolo Ardoino, Tether’s...

The Dubai Multi Commodities Centre (DMCC) has introduced a brand new partnership with the agency Comtech Gold in an effort to digitize gold buying...

The Dubai Multi Commodities Centre (DMCC) has announced a new partnership with the firm Comtech Gold in order to digitize gold trading. The...

While gold tapped an all-time high (ATH) this year surpassing $2K per ounce, the top tokenized gold crypto assets by market valuation continue to see significant demand, premiums, and market capitalization growth. For instance, Paxos Trust Company’s PAXG market cap jumped more than 43% in 31 days from $424 million to today’s $611 million. PAXG…

The post Tokenized Gold Market Caps Grew Significantly Last Month as Fresh Demand Drives Premiums appeared first on Bitcoin News Miner.

Good day Coin Bureau readers, and welcome to another edition of our versus series where we pit the top crypto exchanges, DeFi and CeDeFi platforms, against one another in a head to head comparison to help you figure out which platform is best to suit your crypto needs. Today we will be covering two of […]

The post Celsius vs Nexo: Comparing the BEST Crypto Lending Platforms appeared first on Coin Bureau.

PAX Gold did most of the weightlifting in pushing the gold token market cap above the $1 billion-milestone, outperforming Tether Gold.

The crypto market has been on a recovery trend lately. Even with the market crash, it had already marked a year of massive returns for investors in the space. As is expected with a space with high volatility, crypto assets had begun to crumble in value. But despite the profitable year for cryptocurrencies, a subset of crypto tokens had made their mark as the assets with the highest returns, and they don’t look to be stopping anytime soon. Gold-Backed Tokens Surge These gold-backed assets have helped to increase the liquidity of gold by enabling the ownership of small fractions of gold. Physical gold is somewhat limited in its supply and tokens like this have provided an avenue for investors to get in on the millennium-old asset. These tokens follow the price of a commodity, gold in this case, in the same way, that stable coins follow the price of the fiat currency they are pegged to. Related Reading | Crypto Market To Drop 80% Like Early Internet Company Stocks?, Why This Analyst Thinks So Unlike gold ETFs, gold-backed crypto tokens allow investors to own a part of a physical gold bar, whereas investors are mainly betting on the price of gold with ETFs. Furthermore, investors are able to redeem their gold-backed tokens for physical gold whenever they want. These characteristics have drawn more and more investors to these commodity-backed crypto tokens and as a result, the price of these digital assets has grown tremendously. So much so that these assets have been able to outperform the crypto market at large. Gold-backed tokens outperform crypto market | Source: Arcane Research Two of these gold-backed commodities have recorded the highest growth; Tether Gold (XAUT) and PAX Gold (PAXG). These two crypto assets have grown to a market cap of $409 million and $358 million respectively, marking a significant growth year for each asset. Beating The Crypto Market Even with the crypto market marking several bull runs in 2021, gold-backed tokens have managed to outperform the market. In 2021, the overall crypto market had grown a total of 150%. In contrast, the gold-backed token market surged as high as 360% in the same time period, returning more than twice that of the broader crypto market, with PAX Gold and Tether Gold leading the charge. Crypto total market cap at $1.95 trillion | Source: Crypto Total Market Cap on TradingView.com Other commodities-backed crypto tokens have also begun to gain prominence in the market. Others have emerged that have been tied to silver, palladium, and even oil, but all of these have been met with obstacles that they have found hard to scale, stunting their growth. Related Reading | Why Is Talent Leaving Silicon Valley For Crypto Companies? Recruiters Explain Nevertheless, the gold-backed tokens have shown that commodities-backed tokens do have a future in the market. With growth expected to continue across the crypto market, these tokens may be on their way to being one of the most profitable subsets of crypto investments in the space. Featured image from Finance Magnates, charts from Arcane Research and TradingView.com