The spot price of gold has reached a historical high, with the 24-hour volume of PAXG (PAX Gold) hitting $106 million.

Gate News Bot news, on December 22, according to CoinMarketCap data, as of the time of writing, PAXG (PAX Gold) is currently priced at 4430.64 USD, with a rise of 1.75% in the last 24 hours, reaching a high of 4432.85 USD and a low of 4286.74 USD. The 24-hour volume has reached 106 million USD. The current market capitalization is approximately 1.555 billion USD, an increase of 26.8 million USD compared to yesterday.

PAXG is an asset-backed token, with each token representing one ounce of London Good Delivery (LBMA-certified) gold bars, stored in professional vault facilities. PAXG is custodial by Paxos Trust Company, and anyone who owns PAXG owns the underlying gold bars. Since PAXG represents physical gold, its value is directly linked to the real-time market value of physical gold, providing customers with the advantage of actual physical ownership while having the speed and liquidity of digital assets.

PAXG offers a lower cost structure compared to other gold tokens, gold ETFs, and LBMA 400-ounce gold bars, with a low minimum purchase amount and no storage fees. PAXG is custodied by the trust company Paxos, regulated by the Office of the Comptroller of the Currency (OCC), with the allocated gold stored in LBMA vaults and audited monthly. There are no settlement and credit risks when purchasing PAXG, and on-chain transactions settle almost instantly. PAXG is the only gold token that can be exchanged for LBMA-certified good delivery gold bars, and institutional clients can also exchange for unallocated London gold and redeem for USD at the current gold market price at any time.

Important News about PAXG Recently:

1️⃣ Spot gold prices hit record highs boosting token performance The current spot price of gold has reached a historic high, directly driving the appreciation of the PAXG token. Since each PAXG token is fully pegged to the value of one ounce of LBMA-certified gold bars, the rise in the spot price of gold directly translates into wealth growth for PAXG holders, which is the core fundamental factor driving its 24-hour rise.

2️⃣ Gold-supported token market size breaks through the 3 billion dollar mark The total market size of the gold-backed token market has exceeded $3 billion, demonstrating that institutional and retail investors' recognition of gold tokenization is continuously increasing. This market expansion trend provides a healthier ecological environment for PAXG, conducive to further improvements in its liquidity and trading depth.

3️⃣ OCC Regulatory Advantages and LBMA Exclusive Exchange Rights Support Trustworthiness PAXG, as the only gold token that can be directly exchanged for LBMA-certified good delivery gold bars, is backed by the Paxos Trust Company, which is regulated by the OCC. This regulatory compliance and unique position establish a trust barrier within the industry. The mechanism allowing institutional clients to exchange for US dollars at market prices at any time further reinforces its status as a trusted asset token, laying the foundation for continuously attracting institutional funds.

This message is not intended as investment advice; investors should be aware of market volatility risks.