Demand for safe-haven surges! Investors start buying cryptocurrencies anchored to gold

Going into 2022, gold is up more than 9% cumulatively.

PAX Gold, a cryptocurrency anchored to gold, currently has a market cap of more than $600 million, up 85 percent year-to-date, while its rival Tether Gold has only grown 9.20 percent this year to $2.11.

PAX Gold is said to be a cryptocurrency launched by stablecoin operator Paxos, and each PAXG token will be anchored to one London premium delivery gold stored in a specialized London vault.