Which cryptocurrencies are influenced by the price of gold?

3 answers

• TetheugasJul 22, 2020 · 5 years ago
  Certainly! There are several cryptocurrencies that are influenced by the price of gold. One of the most well-known ones is Tether Gold (XAUT), which is a stablecoin backed by physical gold. Its value is directly tied to the price of gold, making it a reliable option for investors looking to diversify their portfolio. Another cryptocurrency influenced by gold is DigixDAO (DGD), which represents digital ownership of physical gold. Its value is determined by the price of gold and can provide a hedge against market volatility. Additionally, some gold-backed stablecoins like PAX Gold (PAXG) and GoldCoin (GLC) are also influenced by the price of gold. These cryptocurrencies aim to combine the benefits of digital assets with the stability and value of gold.
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• Jorge DavidDec 28, 2024 · 7 months ago
  Yep, gold has a significant impact on certain cryptocurrencies. One example is XAUT, a stablecoin that is backed by physical gold. Its value is directly linked to the price of gold, so as the price of gold fluctuates, so does the value of XAUT. Another cryptocurrency influenced by gold is DGD, which represents ownership of physical gold through blockchain technology. The value of DGD is tied to the price of gold, providing investors with exposure to the precious metal. Other gold-backed stablecoins like PAXG and GLC also follow the price of gold closely. These cryptocurrencies offer a way to invest in gold without the need for physical ownership.
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• Phyo LayDec 03, 2021 · 4 years ago
  Sure thing! When it comes to cryptocurrencies influenced by the price of gold, Tether Gold (XAUT) is a popular choice. It's a stablecoin that is fully backed by physical gold, meaning its value is directly tied to the price of gold. This makes it a reliable option for investors who want exposure to gold without the hassle of owning physical bullion. Another cryptocurrency influenced by gold is DigixDAO (DGD). It represents digital ownership of physical gold and its value is determined by the price of gold. This allows investors to benefit from the potential appreciation of gold while enjoying the advantages of blockchain technology. Additionally, there are gold-backed stablecoins like PAX Gold (PAXG) and GoldCoin (GLC) that track the price of gold. These cryptocurrencies provide a convenient way to invest in gold and diversify one's portfolio.
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