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3 min read 01 Oct 2024

GOLD perpetual all time high perpetual

By Daniele Corno

2024 is undoubtedly the year of GOLD: ATH perpetual since the beginning of the year. Here are the tokenized assets to own gold in the crypto sector

GOLD perpetual all time high perpetual

RWA, tokenized GOLD and adoption

With a performance of more than 30 percent since the beginning of the year and a value that is poised, at the time of writing , above $2670 per ounce, 2024 is undoubtedly the year of gold.

The RECORD-breaking increase, confirms the interest of investors in allocating part of their capital to value stocks. Assets such as GOLD are leading the way.

In the crypto landscape , investors, have the opportunity to buy it through two tokenized assets, which represent a single ounce of gold. PAXG, provided by Paxos and XAUT, provided by Tether.

These assets are guaranteed by the companies, which hold as collateral the consideration for the tokens issued. Tether, currently, holds 246,524.33 ounces, with a total value in excess of $655 million, while, Paxos, recently surpassed $500 million in managed value, with a consideration of 188,715,280 ounces.

Bitcoin and Money Supply

Considered by all as the global store of value, gold is under media attention.

With the first rate cuts by the Federal Reserve, the dollar tends to lose value. First, lower rates lead people to borrow more money, increasing the money supply. Second, yields on the dollar fall, leading investors to allocate their capital to other assets, gold being one example.

As noted in recent years, the main driver for the price of Bitcoin is precisely the global money supply, (M2) however, currently an interesting correlation is occurring in the market.

As inserted in the chart below, Bitcoin and Gold, currently, have a correlation index of 0.92. This indicator, with levels between 1 and -1, indicates on the level of 1 the maximum correlation between the two assets, with the level of -1 instead indicating a maximum inverse correlation. The 0 level, on the other hand, indicates complete decorrelation between the two assets. An interesting consideration for the future of Bitcoin‘s price

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Resta aggiornato in tempo reale con le notizie importanti, dati e analisi ESCLUSIVE

bitcoin
Bitcoin (BTC) $ 97,502.12
ethereum
Ethereum (ETH) $ 2,738.71
xrp
XRP (XRP) $ 2.47
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 708.11
solana
Solana (SOL) $ 196.66
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.263406
cardano
Cardano (ADA) $ 0.789649
staked-ether
Lido Staked Ether (STETH) $ 2,736.75
tron
TRON (TRX) $ 0.242747
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,297.07
chainlink
Chainlink (LINK) $ 19.12
sui
Sui (SUI) $ 3.60
wrapped-steth
Wrapped stETH (WSTETH) $ 3,266.13
avalanche-2
Avalanche (AVAX) $ 26.25
stellar
Stellar (XLM) $ 0.331123
shiba-inu
Shiba Inu (SHIB) $ 0.000017
the-open-network
Toncoin (TON) $ 3.80
litecoin
Litecoin (LTC) $ 124.42
leo-token
LEO Token (LEO) $ 9.83
hedera-hashgraph
Hedera (HBAR) $ 0.233873
usds
USDS (USDS) $ 1.00
hyperliquid
Hyperliquid (HYPE) $ 25.38
weth
WETH (WETH) $ 2,739.85
polkadot
Polkadot (DOT) $ 5.20
bitget-token
Bitget Token (BGB) $ 6.00
bitcoin-cash
Bitcoin Cash (BCH) $ 342.24
ethena-usde
Ethena USDe (USDE) $ 0.999344
uniswap
Uniswap (UNI) $ 9.94
mantra-dao
MANTRA (OM) $ 5.75
wrapped-eeth
Wrapped eETH (WEETH) $ 2,901.89
ondo-finance
Ondo (ONDO) $ 1.38
pepe
Pepe (PEPE) $ 0.000010
monero
Monero (XMR) $ 227.79
near
NEAR Protocol (NEAR) $ 3.40
whitebit
WhiteBIT Coin (WBT) $ 27.34
aave
Aave (AAVE) $ 253.72
aptos
Aptos (APT) $ 6.21
mantle
Mantle (MNT) $ 1.06
internet-computer
Internet Computer (ICP) $ 7.34
dai
Dai (DAI) $ 1.00
bittensor
Bittensor (TAO) $ 407.61
ethereum-classic
Ethereum Classic (ETC) $ 21.44
susds
sUSDS (SUSDS) $ 1.04
okb
OKB (OKB) $ 52.73
official-trump
Official Trump (TRUMP) $ 15.70
gatechain-token
Gate (GT) $ 23.34
vechain
VeChain (VET) $ 0.035314
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.326451