PAX Gold (PAXG)
| Market Cap | $509,997,765 |
|---|---|
| Trading Volume | $14,717,473 |
| Volume / Market Cap | 0.0289 |
| Total Supply | 271,264 PAXG |
| Max Supply | – |
PAX Gold is currently trading at $1,880.31, after a price change of 0.46% in the last 24 hours.
Ranked as cryptocurrency #71 by capitalization today, PAXG market cap is valued at $509,997,765. PAXG trading volume reached $14,717,473 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on PAXG coin price prediction page.
What is PAX Gold?
PAX Gold is a cryptocurrency pegged to a fine troy ounce of a London Good Delivery gold bar stored in vaults. The token is ERC20 standardized and can be transacted in multiple exchanges. PAXG aims to make the trading of gold seamless by cutting on logistical challenges and making the asset more divisible through tokenization. Pax protocol is built on the Ethereum protocol leveraging the proof-of-work consensus model and is compatible with other blockchain protocols.
There are 311,632.31 circulating PAXG tokens from an uncapped total supply of 311,632. The PAXG transactions are managed through the Ethereum-based smart contracts. The PAX Gold smart contracts are built upon the Paxos Standard smart contract audited by Nomic Labs, ChainSecurity, and Trail of Bits.
PAX Gold is available 24 hours, seven days a week, unlike the trading of physical gold. The tokens are minted and destroyed by Paxos protocol as needed. Paxos account holders can change their PAX Gold into USD or unallocated gold. Holders with more than 430 oz of PAX Gold are allowed to redeem them for the physical commodity.
Charles Cascarilla founded Pax Gold in September 2019.