Tokenized gold is a big use case for the crypto space as it allows exposure to the market without any of the hassles of taking physical delivery of the metal. There is real demand for gold-backed ethereum tokens tokens, especially in light of the strong bull market.
Significant jump in activity can be seen in PAXG, a regulated gold-backed token issued by Paxos, as the price of gold climbed to an 8-year high of $1700 between early March and mid-April. As you can see from the chart bellow, PAXG volumes, transactions counts and unique users have grown quite a bit over the past 30 days as compared to January and February.
https://etherscan.io/token/0x45804880De22913dAFE09f4980848ECE6EcbAf78#tokenAnalytics
Posted via Steemleo
