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Paxos' gold token rakes in record inflows as
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Paxos' gold token rakes in record inflows as
Paxos' gold token rakes in record inflows as crypto investors turn to the yellow metal
6 min read
Paxos' gold token rakes in record inflows as crypto investors turn to the yellow metal
Tokenized gold has improved the traditional store of value metal's utility, while bitcoin trades like a risk asset amid uncertain times, one expert noted.
By Krisztian Sandor|Edited by Stephen Alpher
Jan 28, 2026, 7:40 p.m.
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Gold (Unsplash/Zlataky/Modified by CoinDesk)
What to know:
- Paxos Gold (PAXG) posted a record inflow of $248 million in January, boosting its market cap to $2.2 billion.
- The tokenized gold market crossed $5.5B as investors seek stable value amid crypto stagnation.
- The moves occurred as gold prices surged to new records above $5,300.
Crypto investors are piling into tokenized gold as digital asset markets are treading water, sending inflows to Paxos' gold token to a record in January.
Paxos Gold (PAXG), backed by physical gold held in LBMA vaults in London, raked in more than $248 million fresh capital through January, DefiLlama data shows. That lifted PAXG's market capitalization over $2.2 billion, trailing only XAUT$5,380.55.
STORY CONTINUES BELOW
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Paxos Gold inflows (DefiLlama)
The wave of inflows coincide with gold enjoying a blistering rally. The precious metal crossed $5,300 per ounce on Wednesday, soaring 22% through January and gaining more than 90% in the past year. Meanwhile, bitcoin BTC$89,186.68 has slid over 10% in a year and the broader crypto market sunk
This dynamic has shifted some crypto investors' attention toward blockchain-based gold, looking for protection in an uncertain macro environment, said James Harris, CEO of crypto yield platform Tesseract Group.
"The growing traction of tokenized gold has improved gold’s utility, particularly around transferability and divisibility," he said, "while bitcoin continues to trade more like a risk asset in periods of macro uncertainty."
Tokens like PAXG and XAUT offer fractional ownership of physical gold, with blockchain-based transfers and crypto wallet compatibility. For investors, it’s a way to hold a centuries-old store of value without needing a vault.
The total market for tokenized gold has now topped $5.5 billion, according to CoinGecko, marking an all-time high as both inflows and gold prices push the sector to new heights.
GoldTokenized AssetsPaxos
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The January Fed rate decision capped a sharp reversal in easing expectations, likely among the reasons for crypto's poor price performance.
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