Tokenized gold is back in focus. The rise in the price of the physical precious metal has triggered a powerful capital inflow into on-chain assets, and PAX Gold (PAXG) has become the main beneficiary of this trend.
PAXG's network metrics are showing impressive momentum. The number of daily active addresses has soared to an all-time high of 8,830. At the same time, the realized profit on the token reached $6.77 million — the highest value in the last five months. These figures indicate that investors are actively using the current growth to lock in profits, but the market is not in a hurry to get rid of the asset.
The reason for this frenzy is obvious: gold is once again demonstrating a confident upward trend. Over the past week, the price of the precious metal has risen by 2.45%, supported by expectations of changes in the US Federal Reserve's monetary policy. Although a slight correction of 0.39% was observed at the time of writing, the overall market sentiment remains optimistic.
PAXG, backed by one troy ounce of physical gold, is becoming an ideal bridge between traditional finance and cryptocurrencies. It allows digital asset holders to access a safe-haven asset without leaving the blockchain ecosystem. This is particularly relevant amid uncertainty in traditional markets.
Accumulation, Not Distribution
Despite the surge in realized profit, flow data indicates continued accumulation. The net outflow of PAXG from exchanges over the past 24 hours amounted to $6.9 million — nearly 3.7 times higher than the average. Meanwhile, new wallets purchased an additional $1.8 million worth of the token. Over the past seven days, exchanges have recorded a net outflow, and sales by the largest holders remained modest — just $105,400.
This dynamic clearly suggests that institutional and large retail players prefer to hold PAXG in cold wallets rather than withdraw liquidity. This is a bullish signal, pointing to long-term confidence in the asset.
Key events for the further dynamics of PAXG and the gold market will be the release of the Federal Reserve meeting minutes and the US inflation data for June, scheduled for mid-July. If gold maintains its current positions, PAXG will remain one of the most sought-after and "safe" options on the crypto market.
Expert opinion from Cryptalist: PAXG's record activity metrics are not just a speculative spike, but a structural shift. Investors are increasingly viewing tokenized real-world assets (RWA) as a reliable alternative to volatile altcoins. PAXG is leading the charge here, and if the gold uptrend continues, we could see new all-time highs not only in the token's price but also in its on-chain metrics.