PAX Gold (PAXG) Sees Surge in On-Chain Activity as Gold Prices Climb
Tokenized gold asset PAXG is lighting up on-chain metrics as physical gold rallies. Daily active addresses hit a record high, and realized profits are soaring, signaling renewed interest in digital gold as a safe haven. Exchange outflows suggest accumulation despite profit-taking.
PAX Gold (PAXG) is catching fire as physical gold makes a move. On-chain data shows daily active addresses hitting a record 8,830, with realized profits jumping to $6.77 million, a five-month high. This surge is driven by gold's recent rally, pushing traders to seek safer, liquid on-chain assets. Despite profit-taking, exchange outflows of $6.9 million over 24 hours indicate accumulation is still the name of the game, with new wallets adding $1.8 million. The Fed minutes and US inflation data are the next catalysts to watch for gold and $PAXG.