Paxos Gold (PAXG) Among Stablecoins Unscathed by Weekend Selloffs

Paxos Gold (PAXG) holds stable despite weekend sell-off in cryptocurrencies that saw Bitcoin plunge (BTCUSD) by 15 per cent.

  • Cryptocurrency market follows stock sell off over weekend with Bitcoin plunging by 15 per cent
  • Paxos Gold (PAXGUSD) presents a viable alternative for crypto newcomers looking for commodity-backed stability
  • PAXG 81st on list of top cryptocurrencies by market capitalisation of US $943.9 million

Any cryptocurrency investor would likely have encountered the question: “What is it backed by?” while discussing digital assets with those considering an investment of their own. With the considerable market sell-off seen over this weekend, it’s quite likely that crypto sceptics could return to these questions of whether it’s sound to consider a long-term investment …

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