1 days ago
As traditional gold markets heat up, crypto investors are following suit— flocking to tokenized versions of the precious metal that offer both price exposure and digital flexibility. Gold-backed cryptocurrencies like Paxos Gold (PAXG) and Tether Gold (XAUT) have risen 24.15% and 23.7% respectively year-to-date to new all-time highs above $3,300, roughly matching the performance of spot gold. Their prices have since receded slightly to $3,265 and $3,244, respectively. While gold-backed cryptocurrencies surged so far this year, the wider cryptocurrency market has been in a downtrend. Bitcoin ( BTC ) has lost more than 11% of its value so far this year, while the wider crypto market has fallen by a little over 30%, based on the CoinDesk 20 ( CD20 ) index. The tokens, which are backed by physical gold and track its price, experienced a surge in value as investors sought refuge from the uncertainty induced by the escalating U.S.-China trade war. The move echoes a broader return to gold as a safe-haven asset. Inflows into gold ETFs hit 226.5 tonnes in the first quarter of 2025, the highest level since early 2022, according to data from the World Gold Council . Nearly 60% of that demand came from North America. Similarly, gold-backed cryptocurrencies saw net token minting of over $42.7 million in the first quarter of the year, according to data from RWA.xyz , helping along with gold’s price appreciation raise their total market capitalization near $1.4 billion.
CoinDesk
You can visit the page to read the article.
Source: CoinDesk
Tags :
Markets Gold Xaut Paxg
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Ethereum Price Consolidation Hints at Strength—Is a Move Higher Coming?
Ethereum price started a fresh increase above the $1,620 zone. ETH is now consolidating gains and might aim for more gains above $1,680. Ethereum started a decent increase above the $1,600 and $1,620 levels. The price is trading above $1,625 and the 100-hourly Simple Moving Average. There is a new connecting bullish trend line forming with support at $1,625 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $1,680 resistance zone. Ethereum Price Eyes More Gains Ethereum price formed a base above $1,520 and started a fresh increase, like Bitcoin . ETH gained pace for a move above the $1,580 and $1,600 resistance levels. The bulls even pumped the price above the $1,650 zone. A high was formed at $1,690 and the price recently started a downside correction. There was a move below the $1,640 support zone. The price dipped below the 50% Fib retracement level of the upward move from the $1,562 swing low to the $1,690 high. However, the bulls were active near the $1,620 zone. Ethereum price is now trading above $1,625 and the 100-hourly Simple Moving Average . There is also a new connecting bullish trend line forming with support at $1,625 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $1,660 level. The next key resistance is near the $1,680 level. The first major resistance is near the $1,690 level. A clear move above the $1,690 resistance might send the price toward the $1,750 resistance. An upside break above the $1,750 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $1,800 resistance zone or even $1,880 in the near term. Another Decline In ETH? If Ethereum fails to clear the $1,660 resistance, it could start a downside correction. Initial support on the downside is near the $1,620 level. The first major support sits near the $1,610 zone and the 61.8% Fib retracement level of the upward move from the $1,562 swing low to the $1,690 high. A clear move below the $1,610 support might push the price toward the $1,575 support. Any more losses might send the price toward the $1,550 support level in the near term. The next key support sits at $1,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $1,610 Major Resistance Level – $1,660 CoinDesk
Bitcoin Shows Signs of Potential Accumulation Phase Amid Recent Price Movements and Market Analysis
Bitcoin’s recent price movements suggest a pivotal moment as it rebounds from the $74.6k support level, stirring bullish sentiment among traders. As the short-term outlook appears optimistic, some analysts caution CoinDesk
