Tokenized gold tokens XAUt and PAXG prices fell more than 6% each over the past 24 hours as the price of gold slumped to its biggest intraday dip. As Bitcoin price edged up to above $112,000 amid a slight uptick…Tokenized gold tokens XAUt and PAXG prices fell more than 6% each over the past 24 hours as the price of gold slumped to its biggest intraday dip. As Bitcoin price edged up to above $112,000 amid a slight uptick…

XAUt and PAXG slide 6% amid gold’s tumble

Tokenized gold tokens XAUt and PAXG prices fell more than 6% each over the past 24 hours as the price of gold slumped to its biggest intraday dip.

Summary
  • Tether Gold and PAX Gold fell 6% each as tokenized gold tokens slumped alongside Gold.
  • Spot gold fell to $4,122 an ounce, with the precious metal falling to its biggest intraday drop since 2013.
  • Bitcoin saw slight gains amid the gold slump, rising to above $112,000.

As Bitcoin price edged up to above $112,000 amid a slight uptick for cryptocurrencies, the top two tokenized gold tokens by market cap bucked the trend. Tether Gold (XAUt) and PAX Gold (PAXG) both slipped by more than 6% to change hands around $4,120 at the time of writing.

Why are XAUt and PAXG down today?

Crypto market’s broader uptick came as stocks surged amid a flurry of positive earnings reports on Wall Street. The upside across equities cascaded into cryptocurrencies. Meanwhile, gold suffered its biggest single-day drop in more than 10 years. 

The tanking also saw gold record its steepest intraday fall since 2013.

As gold dropped 6% to under $4,120 an ounce, tokens backed by holdings of the precious metal dumped. 

XAUt and PAXG prices mirrored the declines in the top safe haven asset, with an upbeat sentiment for risk-on assets seeing analysts forecast a potential capital rotation from gold to Bitcoin (BTC).

But while Bitcoin holders eye more gains, economist and gold advocate Peter Schiff has other ideas. He agrees the decline is “quite a shakeout,” but says it only offers another chance for BTC holders to dump the digital asset and “buy the real thing.”

Tether Gold and PAX Gold prices hit highs of $4,391 and $4,430 respectively on October 17, 2024, gains that aligned with gold’s parabolic surge. However, as the rally that catapulted gold to a new all-time hits a halt, the Tether and Paxos issued tokens are also paring gains.

Market Opportunity
Tether Gold Logo
Tether Gold Price(XAUT)
$4,337.56
$4,337.56$4,337.56
+0.12%
USD
Tether Gold (XAUT) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Ethereum unveils roadmap focusing on scaling, interoperability, and security at Japan Dev Conference

Ethereum unveils roadmap focusing on scaling, interoperability, and security at Japan Dev Conference

The post Ethereum unveils roadmap focusing on scaling, interoperability, and security at Japan Dev Conference appeared on BitcoinEthereumNews.com. Key Takeaways Ethereum’s new roadmap was presented by Vitalik Buterin at the Japan Dev Conference. Short-term priorities include Layer 1 scaling and raising gas limits to enhance transaction throughput. Vitalik Buterin presented Ethereum’s development roadmap at the Japan Dev Conference today, outlining the blockchain platform’s priorities across multiple timeframes. The short-term goals focus on scaling solutions and increasing Layer 1 gas limits to improve transaction capacity. Mid-term objectives target enhanced cross-Layer 2 interoperability and faster network responsiveness to create a more seamless user experience across different scaling solutions. The long-term vision emphasizes building a secure, simple, quantum-resistant, and formally verified minimalist Ethereum network. This approach aims to future-proof the platform against emerging technological threats while maintaining its core functionality. The roadmap presentation comes as Ethereum continues to compete with other blockchain platforms for market share in the smart contract and decentralized application space. Source: https://cryptobriefing.com/ethereum-roadmap-scaling-interoperability-security-japan/
Share
BitcoinEthereumNews2025/09/18 00:25
MMDA, sleep health organization launch drowsy driving campaign ahead of holidays

MMDA, sleep health organization launch drowsy driving campaign ahead of holidays

The Metro Manila Development Authority (MMDA) and the Philippine Society of Sleep Medicine (PSSM) on Wednesday launch an awareness campaign to prevent drowsy driving
Share
Bworldonline2025/12/18 12:05
A Netflix ‘KPop Demon Hunters’ Short Film Has Been Rated For Release

A Netflix ‘KPop Demon Hunters’ Short Film Has Been Rated For Release

The post A Netflix ‘KPop Demon Hunters’ Short Film Has Been Rated For Release appeared on BitcoinEthereumNews.com. KPop Demon Hunters Netflix Everyone has wondered what may be the next step for KPop Demon Hunters as an IP, given its record-breaking success on Netflix. Now, the answer may be something exactly no one predicted. According to a new filing with the MPA, something called Debut: A KPop Demon Hunters Story has been rated PG by the ratings body. It’s listed alongside some other films, and this is obviously something that has not been publicly announced. A short film could be well, very short, a few minutes, and likely no more than ten. Even that might be pushing it. Using say, Pixar shorts as a reference, most are between 4 and 8 minutes. The original movie is an hour and 36 minutes. The “Debut” in the title indicates some sort of flashback, perhaps to when HUNTR/X first arrived on the scene before they blew up. Previously, director Maggie Kang has commented about how there were more backstory components that were supposed to be in the film that were cut, but hinted those could be explored in a sequel. But perhaps some may be put into a short here. I very much doubt those scenes were fully produced and simply cut, but perhaps they were finished up for this short film here. When would Debut: KPop Demon Hunters theoretically arrive? I’m not sure the other films on the list are much help. Dead of Winter is out in less than two weeks. Mother Mary does not have a release date. Ne Zha 2 came out earlier this year. I’ve only seen news stories saying The Perfect Gamble was supposed to come out in Q1 2025, but I’ve seen no evidence that it actually has. KPop Demon Hunters Netflix It could be sooner rather than later as Netflix looks to capitalize…
Share
BitcoinEthereumNews2025/09/18 02:23