Gold-backed cryptocurrencies have surged amid uncertainty in global trade.
Gold-backed cryptocurrencies such as Tether Gold and Paxos Gold have increased by about 7% over the past month as investors seek safe assets.
According to CoinMarketCap, on April 22, Tether Gold (XAUT) and Paxos Gold (PAXG) reached all-time highs: the price of Tether Gold hit $3529, while the price of Paxos Gold reached $3520.
Two other gold-backed cryptocurrencies, Quorium (QGOLD) and Kinesis Gold (KAU), have risen by 8.5% and 7.6% respectively over the last 30 days. All four tokens have increased by 40% or more over the past 12 months, according to CoinGecko.
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