PAXG Token Sees 7.69% Drop Amid Record Volumes and Institutional Demand for Gold-Backed Assets

PAXGUSDT experienced notable volatility in the past 24 hours, with the price on Binance currently at $4,929.42, representing a 7.69% decrease from the 24h open of $5,340.28. The recent price drop follows a period of record highs and elevated trading volumes, attributed to increased accumulation by institutional investors and large holders seeking safe-haven assets amid broader cryptocurrency market uncertainty. The surge in demand for tokenized gold, highlighted by all-time high trading volumes and new exchange listings, initially drove prices upward; however, subsequent market activity and profit-taking have led to a short-term price correction. PAXG continues to register robust volume and active participation, with significant interest in its underlying physical gold-backed structure.