PAX Gold

Today's state: PAX Gold is trading at $4,373.06 with a $1.9 billion market capitalization (rank #42). The price moved +0.60% over the past 24 hours and is +0.80% over 7 days; the 30-day move stands at +8.60% and the 90-day at +0.00%.

Position vs cycle: A drawdown of more than 70% from the last cycle high puts the asset firmly in deep-bear territory, where recoveries have historically required a fresh demand catalyst rather than mere mean-reversion.

Volatility and structure: 30-day realized volatility of 20.4% annualized is low for an asset this size. Our composite multi-horizon Price Strength reads Neutral (51/100), with a mixed multi-horizon profile and no clear directional bias.

Beyond Bitcoin, PAXG's 90-day return correlations to the other two largest layer-1 references help characterize whether the asset moves as part of a crypto-market beta complex or as something more idiosyncratic. The Pearson correlations across daily log returns:

• Bitcoin reference: -0.04 — a minimal negative relationship.
• Ethereum reference: +0.04 — a minimal positive relationship.
• Solana reference: +0.03 — a minimal positive relationship.

When an asset correlates strongly with multiple majors, it is trading largely as market beta — the big caps set the direction and standalone outperformance is elusive. Weak or negative correlations instead signal idiosyncratic forces (its own news, sector rotation, narrative changes) capable of producing returns the broader market does not share.

PAX Gold (PAXG) is a cryptocurrency, traded on global digital-asset markets. It trades at $4,373.06 as of the latest update, with a 24-hour move up 0.60%, placing it at rank #42 by market capitalisation among all listed digital assets. PAX Gold's current market cap stands at $1.91B, a figure used by traders, analysts and institutional desks to gauge relative liquidity and risk exposure across the crypto market.

On this page you'll find a live, daily-refreshed dashboard tracking PAX Gold across multiple data sources — price history going back several years, on-chain activity where available, fundamentals like circulating supply and dilution, top exchanges by volume, technical analysis using moving averages and RSI, and an algorithmic short, mid and long-term forecast. All figures are pulled from public APIs and cached locally; nothing here is investment advice.

PAX Gold is part of the tokenized real-world asset (RWA) sector — a growing category where traditional financial instruments are issued or wrapped on-chain to combine TradFi yield with crypto-native composability. RWA adoption has accelerated meaningfully with institutional participation from BlackRock (BUIDL), Franklin Templeton, Ondo Finance, and others.

PAX Gold currently ranks #42 by market capitalisation, making it a top-50 asset. It currently trades about 98% below its all-time high of $192,278.70 set in October 2019, while sitting roughly 3.1× above its record low.

PAX Gold tokenizes a real-world asset (typically US Treasuries, money-market fund shares, private credit, or commodity exposure) and brings that exposure on-chain. An off-chain custodian or fund issuer holds the underlying asset, and an equivalent on-chain token is minted, providing programmable access to TradFi yield or collateral.

The token's value tracks the underlying asset, not open-market speculation. Yield (where present) accrues to holders either via rebasing supply, automatic compounding, or distribution events specified by the issuer.

PAX Gold currently ranks #42 by market capitalisation, making it a top-50 asset. It currently trades about 98% below its all-time high of $192,278.70 set in October 2019, while sitting roughly 3.1× above its record low.

Primary use cases: on-chain access to US Treasury yield (the largest RWA category), collateral for crypto-native lending and structured products, treasury management for DAOs and crypto-native businesses, and on-chain settlement of TradFi-equivalent products. Adoption tracks regulatory clarity and the issuing institution's credibility.

Daily volume runs at about 3.8% of market capitalisation ($71.72M in the last 24 hours), in the normal band for a coin of this size and supportive of orderly entries and exits.

The supply story for PAX Gold comes down to three things: how tokens are issued over time, how many are circulating now, and how far the fully-diluted valuation sits above the circulating market cap.

Whether the tokenomics help or hurt comes down to value accrual versus dilution — fee burns, reinvested staking yield and TVL growth on one side, scheduled emissions on the other. A favourable balance lets price grind higher without hype; an unfavourable one means the asset must keep attracting demand just to absorb issuance.

At the top of the macro stack sit interest rates, dollar liquidity and risk appetite, and crypto has tended to amplify all three. Easing financial conditions and a weaker dollar have historically pulled the sector up; tightening liquidity and a firmer dollar have reliably pulled it back down.

A handful of traditional gauges tend to lead or confirm crypto moves: the dollar index (strength is a headwind), the 10-year yield (the price of risk capital), gold (an occasional fellow-traveller in debasement trades), and the S&P 500 (which often moves with crypto when liquidity, not fundamentals, is in the driver's seat).

Narrowing to PAX Gold, the cleanest leading signal has usually been crypto-native liquidity — the combined trend in stablecoin supply, futures open interest and exchange turnover. When that pool of on-chain capital grows, PAXG has tended to advance with it; when it drains, the move has typically gone into reverse. With a comparatively loose 90-day BTC correlation of -0.04, PAXG has shown more idiosyncratic price behaviour than the average large-cap — its own catalysts can matter as much as the broad liquidity tide.

Specific risks: issuer/custodian risk (the underlying asset depends on an off-chain entity's solvency and operational integrity), regulatory risk (RWA classification is jurisdiction-specific and actively evolving), redemption risk (some RWAs gate redemption by amount, holding period, or KYC status), smart contract risk in the on-chain wrapper, and liquidity risk in secondary markets (institutional RWAs may have thin on-chain liquidity outside primary issuance).