Due to the tense situation in the Middle East, tokenized gold assets such as Tether Gold (XAUT) and Paxos Gold (PAXG) surged in price over the weekend, with PAXG rising nearly 4% to $5,438. Meanwhile, Bitcoin and Ethereum prices declined following reports of U.S. and Israel launching airstrikes against Iran. This increase highlights investors' demand for on-chain safe-haven assets, as spot gold prices attracted more capital, and Tether is rapidly becoming one of the world's major gold holders.
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Due to the tense situation in the Middle East, tokenized gold assets such as Tether Gold (XAUT) and Paxos Gold (PAXG) surged in price over the weekend, with PAXG rising nearly 4% to $5,438. Meanwhile, Bitcoin and Ethereum prices declined following reports of U.S. and Israel launching airstrikes against Iran. This increase highlights investors' demand for on-chain safe-haven assets, as spot gold prices attracted more capital, and Tether is rapidly becoming one of the world's major gold holders.