What Is Pax Gold (PAXG)?
Pax Gold (PAXG) is a gold-backed cryptocurrency, launched by the creators of Paxos Standard (PAX) in September 2019. As an ERC-20 token operating on the Ethereum blockchain, Pax Gold is tradeable on a large variety of exchanges and has become an accessible way for traders to start investing in gold.
The main goal behind Pax Gold is to make gold more tradable, as the physical commodity is not easily divisible or flexible in terms of transport. This is why Paxos Standard decided to create a cryptocurrency entirely backed by gold. According to the official whitepaper, Pax Gold was created to allow investors to buy indefinitely small amounts of gold through the cryptocurrency, thus virtually eliminating minimum buy limits for the commodity.
Who Are the Founders of Pax Gold?
Charles Cascarilla is the founder and chief executive officer of both Paxos Standard and Pax Gold. Cascarilla has an extensive career in capital management, which is what led him to explore the vast possibilities cryptocurrencies offer.
After acquiring a degree in finance from the University of Notre Dame, he co-founded Cedar Hill Capital Partners in 2005. This was the start of his career in finance and capital management. Since 2005, Mr. Cascarilla has participated in several traditional and blockchain-based venture capital projects.
PAX Gold Price Prediction
If you’re looking for PAX Gold price predictions for 2022, 2023, 2024, 2025, 2030 and want to know where the prices of PAX Gold (PAXG) will go in the future? We will analyze the past prices of PAX Gold (PAXG) and will found out what experts are saying about its future price actions.
Please keep that in mind you need to take this prediction and every other prediction with the intention that this is only the suggestion of some market expert/analysts.
Not to mention predicting something so perfect is completely impossible. But we will try our best. Let’s start.
|Year||Minimum Price||Average Price||Maximum Price|
PAX Gold Overview
|Coin Name||PAX Gold|
|USD Price||$ 1,841.58|
|24h Volume||$ 24,397,286|
PAX Gold (PAXG) Price Prediction
At reconshell.com we predict future PAX Gold price predictions/PAXG forecast by applying deep artificial intelligence-assisted technical Analysis on the past price data of PAX Gold. We do our best to collect maximum historical data for the PAXG coin which include multiple parameters like past price, PAX Gold marketcap, PAX Gold volume and few more. If you are looking to invest in digital cryptocurrencies and want good return on your investments, make sure to read our predictions.
PAX Gold Price Prediction 2022
According to our deep technical analysis on past price data of PAXG, In 2022 the price of PAX Gold is predicted to reach at a minimum level of $2,557.32. The PAXG price can reach a maximum level of $3,137.23 with the average trading price of $2,649.38.
PAX Gold Price Prediction 2023
The price of PAX Gold is predicted to reach at a minimum level of $3,869.24 in 2023. The PAX Gold price can reach a maximum level of $4,536.14 with the average price of $4,001.71 throughout 2023.
PAXG Price Forecast for 2024-2025
As per the forecast price and technical analysis, In 2024 the price of PAX Gold is predicted to reach at a minimum level of $5,598.11. The PAXG price can reach a maximum level of $6,667.50 with the average trading price of $5,758.17.
The price of 1 PAX Gold is expected to reach at a minimum level of $7,662.28 in 2025. The PAXG price can reach a maximum level of $9,727.24 with the average price of $7,892.60 throughout 2025.
PAX Gold Price Prediction 2026
PAX Gold price is forecast to reach a lowest possible level of $10,851.99 in 2026. As per our findings, the PAXG price could reach a maximum possible level of $13,181.84 with the average forecast price of $11,246.62.
PAX Gold Price Prediction 2027
According to our deep technical analysis on past price data of PAXG, In 2027 the price of PAX Gold is forecasted to be at around a minimum value of $15,734.74. The PAX Gold price value can reach a maximum of $18,735.69 with the average trading value of $16,184.60 in USD.
PAX Gold (PAXG) Price Prediction 2028
The price of PAX Gold is predicted to reach at a minimum value of $21,590.03 in 2028. The PAX Gold price could reach a maximum value of $27,007.63 with the average trading price of $22,399.26 throughout 2028.
PAX Gold Price Prediction/Forecast 2029
As per the forecast and technical analysis, In 2029 the price of PAX Gold is expected to reach at a minimum price value of $31,650.93. The PAXG price can reach a maximum price value of $37,227.69 with the average value of $32,546.90.
PAX Gold (PAXG) Price Prediction 2030
The price of PAX Gold is predicted to reach at a minimum value of $44,746.23 in 2030. The PAX Gold price could reach a maximum value of $53,460.95 with the average trading price of $46,373.57 throughout 2030.
PAX Gold Price Prediction 2031
PAX Gold price is forecast to reach a lowest possible level of $66,181.66 in 2031. As per our findings, the PAXG price could reach a maximum possible level of $79,318.95 with the average forecast price of $68,036.60.
What Makes Pax Gold Unique?
With a growing number of ERC-20 tokens available for purchase, Pax Gold stands out because it is backed by an already established commodity. One of the main goals for Pax Gold is to make investing in gold more accessible.
The official whitepaper states that “more than USD 3.5 trillion of the total gold available today is used solely for investment purposes;” however, a large portion of it is unavailable to small-time investors. This is where Pax Gold comes into play. Each PAXG token is backed by a fraction of a piece of London Good Delivery gold bar, stored in Brink’s gold vaults, which is the approved storage company by the London Bullion Market Association.
Through combining the security and liquidity offered by blockchain-based cryptocurrency, and the established name of gold as a physical commodity, Pax Gold brings a new investment opportunity to traders. PAXG has inspired other cryptocurrency developers to create gold-backed tokens as well.
How Many Pax Gold (PAXG) Coins Are There in Circulation?
Pax Gold tokens have a one to one ratio with the gold storage backing it. This means that there is a PAXG coin for each ounce of gold in rotation covered by the Pax Gold protocol. In this sense, the amount of PAXG tokens in circulation changes frequently.
At the moment of writing, there are about 60,161 PAXG coins in circulation. However, the number of coins shifts almost by the minute as new investors are introduced, and Pax Gold increases the available gold supply for backing.
How Is the Pax Gold Network Secured?
In the official whitepaper, Pax Gold CEO Charles Cascarilla explains that the PAXG protocol is created entirely on the Ethereum blockchain and is secured by the proof-of-work (PoW) model. However, PAXG is not exclusively tied to Ethereum and can be launched on other blockchains as well.
Proof-of-work protocols represent a classic approach to cryptocurrency mining, Bitcoin being the most prominent example. Ethereum has, however, recently begun its transition to the proof-of-stake (PoS) model, aiming to reduce the resources necessary for token mining, among other things.
Where Can You Buy Pax Gold (PAXG)?
Pax Gold is an ERC-20 token, which means it can be bought on many established exchanges and can be stored in a wide variety of cryptocurrency wallets.
Some of the top recommended exchanges for trading Pax Gold are Binance, BitZ, FTX and Kraken. It is important to note that while Pax Gold is backed by physical gold bars, there still is risk associated with investing and trading PAXG.