Gold-Backed Stablecoins Today PAXG & Tether Gold

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Bitcoin is on the rise again, although it recently dropped by 53%, mimicking the last Bitcoin plunge in 2019. After that 2019 fall, it slipped an additional 62% in 2020. Analysts believe this fall may happen again, but many are optimistic given Bitcoin’s rise over the weekend. Some investors are encouraged by the idea to buy now, but others are turning back to other crypto assets to hedge against the volatility. PAXG, a gold-backed stablecoin, is one place people are turning to escape volatility in the crypto market. Backed by the gold price, digital gold tokens are on the rise. Q1 2021 hedge …

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