As major cryptocurrencies experience a slight downturn, PAX Gold (PAXG) has managed to maintain its value above $2,390. This stability comes as Bitcoin (BTC) and Ethereum (ETH) face declines, reflecting a broader market trend. On Tuesday, Bitcoin, which had surged to over $68,000 earlier in the week, fell to approximately $66,000 by 2:20 PM ET.

The cryptocurrency market has experienced a recent price crash, with altcoins suffering the most and registering double-digit losses. Nevertheless, prominent crypto analysts believe this asset class presents a “once in a few years” opportunity, forecasting a positive outcome.

These under-the-radar cryptos are primed for explosive gains in the six months following Bitcoin's halving event.

The gold-backed stablecoin market is still a pretty niche subsector, despite the recent popularity of gold in the broader market.

PAX Gold is a digital coin equivalent to physical gold valued at $2,855 in April. While gold is usually thought of as digital gold went high while, Bitcoin, the cryptocurrency, saw a new price decline in an instant, in terms of the overall decline of the value of Bitcoin.

Tensions in the Middle East ramped up over the weekend following an Iranian drone and missile attack, which saw the price of PAX Gold and Bitcoin reacting very differently.

Bitcoin traded at a perfect negative correlation to PAXG in a sign of weak demand as a geopolitical hedge, according to one observer.

Gold has made consecutive new all-time highs year-to-date, drawing investors' attention and fueling what was already a significantly increased demand. Finbold selected two tokenized gold cryptocurrencies to invest in and gain exposure to the leading commodity

HSBC's bold move may have set a new standard for blockchain-based financial products in Hong Kong's retail market.

Financial giant HSBC has launched tokenized gold for its Hong Kong retail clients, becoming the first bank to enter the real-world asset (RWA) tokenization sector. The HSBC gold token The bank unveiled the launch of a gold token for customers in Hong Kong.

In a landmark development for the financial industry, HSBC has introduced a groundbreaking service to its retail customers in Hong Kong, marking the bank's foray into the fusion of digital and traditional assets.

Retail investors in Hong Kong can get access to tokenized gold via HSBC's online banking website and mobile app.

HSBC has announced the launch of its HSBC Gold Token for retail customers in Hong Kong. This initiative marks the bank's foray into the real-world asset tokenization market, offering a new investment method through blockchain technology.

A CoinGecko report shows that gold-backed tokens like Tether Gold (XAUT) and PAX Gold (PAXG) account for 83% of the market cap.

Binance adds Axie Infinity, PAX Gold, Pendle, Render, and USD Coin to its Flexible Rate Loans offerings, enhancing its financial services suite.

Cryptocurrencies are in a bull market, led by the dominating Bitcoin (BTC), with over $1.1 trillion in capitalization. With such a strong momentum, smaller projects could experience a 10 times increase in market cap in 2024.

Consider these three cryptos to buy before impending rate cuts and halving-driven scarcity kickstart the next crypto bull market.

Some low market-cap cryptocurrencies can present appealing risk-reward potential in the highly competitive and constantly shifting crypto landscape. In this article, Finbold has picked three assets that could reach $1 billion in market value in 2024.

The Bitcoin spot ETF approval could have sparked an altcoin rally, with other cryptocurrencies outperforming the leader Bitcoin (BTC). With an institutional focus on BTC, the cryptocurrency market opens the door for what might be an altcoins' weekend.

Bitcoin's (BTC) dominance over the cryptocurrency market fell slightly to 53% from its highs at 55%. Meanwhile, altcoins' total capitalization remains above $700 billion, and investors expect an altseason.

Beyond mainstream coins like Bitcoin, many promising under-the-radar cryptos could erupt in the next bull cycle.

To capitalize on the bullish crypto market, investors are turning their attention to finance cryptos with transformative potential.

In a high-volatility space, buying cryptocurrencies can sometimes feel similar to ‘trick-or-treating' during Halloween festivities. While most value investors and crypto traders are continuously looking for ‘sweet candies' with good picks to bring positive results, making the right choices can sometimes be ‘tricky'.

A growing trend in finance known as remittances is described by the International Monetary Fund (IMF) as the sum of two main components involving financial transactions across borders: “Compensation of employees” and “personal transfers”. However, it can also often describe migrants sending money to their origin country.

With over 1.8 million cryptocurrencies available in the market, speculators could be unsure about which project to focus on, for doing their due diligence before even thinking about buying. Therefore, listening to others often provides a shortcut for relevant pieces of information, but it must be done with caution.

These small-cap cryptos are well-positioned to deliver explosive returns once their niche goes mainstream.

Over the last six months, the value of an ounce of gold has witnessed a 3.8% surge in relation to the U.S. dollar. Within the realm of cryptocurrencies, there exist two noteworthy tokens backed by gold: pax gold (PAXG) and tether gold (XAUT). Together, these tokens amass a considerable worth of nearly $1 billion.

These cheap cryptos with huge growth potential will likely deliver outsized gains in the next crypto rally.

Today's cryptocurrency market presents Agix, PEPE, Kava, CSPR, Zec, and EOS as the top gainers, making impressive strides despite the volatile market environment. On the other hand, Optimism (OP), TRON (TRX), BitTorrent (BTT), Iota, Fantom (FTM), and Pax Gold (PAXG) have had a challenging day, experiencing market declines.

The market today sees Conflux (CFX), Kava (KAVA), Render Token (RNDR), NEO, Immutable X (IMX), and Synthetix (SNX) steering through the tumultuous tides as the top gainers, while Leo Token (LEO), Injective Protocol (INJ), Rocket Pool (RPL), Pax Gold (PAXG), USD Digital (USDD), and Frax Share (FXS) are charting through choppy waters as they face market declines.

Today's cryptocurrency market showcases a mix of gainers and losers, highlighting the ever-changing and dynamic nature of this financial landscape. In this daily analysis, we delve deeper into the top gainers and losers, providing insights to help you make informed decisions.

Today's crypto market highlights Nexo (NEXO), Flare (FLR), Pax Dollar (USDP), PAX Gold (PAXG), Dai (DAI), and Tether (USDT) as the top gainers, while Floki Inu (FLOKI), PepeCash (PEPE), PancakeSwap (CAKE), Huobi Token (HT), Luna Classic (LUNC), Conflux (CFX), and Woo Network (WOO) have experienced losses.

A look at five altcoins that increased the most in this week's crypto market, specifically from April 28 to May 5

The banking turmoil may continue later this year, which will be a blessing for these three cryptos to buy.

The rise in gold prices has been attributed to mounting speculation about the United States Federal Reserve's future policy following the release of jobs data.

The market capitalization of tokenized gold assets has crossed the $1 billion milestone, coinciding with the near-record high price of gold. Tokenized gold, a form of stablecoin, mirrors the price of gold.

Tokenized gold is a type of stablecoin that pegs its price to gold, while the tokens on the blockchain represent ownership of physical gold managed by the issuer.

Investors should seek refuge in these three safe-haven cryptos if they believe their funds are at risk of a crypto market crash.

The following cryptocurrencies had the worst week of all altcoins.

Last year's selloffs have caused many undervalued cryptos to trade below their intrinsic value. These seven are among the most undervalued.

Well-established projects and utility tokens should be at the top of your list when looking for bear market cryptos to buy.

Cryptocurrencies and non-fungible token projects have been designed to offer innovative and creative functionalities and real-world practicalities that have the potential to experience continuous growth in value and popularity. And we have seen that in many altcoins and NFTs throughout the years.

PAX Gold is a gold-backed ERC-20 token, launched by Paxos, creators of Paxos Dollar stablecoin and itBit crypto exchange.

FTX was hacked for hundreds of millions in cryptocurrencies a few hours after filing for bankruptcy.

Paxos has reclaimed 11,184 Paxos Gold (PAXG) tokens worth $20 million taken during the FTX hack.  The post Paxos recovers $20 million in gold tokens stolen in the FTX hack appeared first on The Block.

Reports surfaced yesterday that Paxos had burnt PAXG in four different FTX drainer wallets.

The FTX controversy has pulled the entire crypto market down, with top tokens struggling to stay afloat. Despite the bearish sentiment, PAX Gold (PAXG) has continued to trade in the green zone, keeping substantial intraday and one-week gain.