In the past month, the volume of gold-backed cryptocurrency issuance has reached its highest level in nearly three years according to a report from CoinDesk. The market value of this type of Token has risen 6% to 1.43 billion USD. At the same time, monthly trading volume increased 77%, reaching 1.27 billion USD. This indicates a significant level of interest in gold-linked cryptocurrency assets.
In the context of rising gold prices, the demand for gold in the first quarter reached 1,206 tons, a record level since 2016. Analysts point out that ETF investors and cryptocurrency users are seeking programmable and on-chain risk management tools. This shift is increasing the appeal of gold-backed cryptocurrency assets.
This information is intended to provide market insight and does not constitute investment advice.
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Gold cryptocurrency market rises 6%: New attraction
Title: The Rise of Gold-Backed Cryptocurrency
In the past month, the volume of gold-backed cryptocurrency issuance has reached its highest level in nearly three years according to a report from CoinDesk. The market value of this type of Token has risen 6% to 1.43 billion USD. At the same time, monthly trading volume increased 77%, reaching 1.27 billion USD. This indicates a significant level of interest in gold-linked cryptocurrency assets.
In the context of rising gold prices, the demand for gold in the first quarter reached 1,206 tons, a record level since 2016. Analysts point out that ETF investors and cryptocurrency users are seeking programmable and on-chain risk management tools. This shift is increasing the appeal of gold-backed cryptocurrency assets.
This information is intended to provide market insight and does not constitute investment advice.
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to always stay updated with the latest news about the cryptocurrency market and not miss any important information!