Coinbase Introduces PAX Gold Perpetual Futures Trading
Coinbase, a leading global cryptocurrency exchange, has launched PAX Gold perpetual futures trading on May 1, 2025, expanding the trading options for this gold-backed digital asset. The introduction of PAX Gold perpetual futures allows traders to access gold-backed cryptocurrency, providing an alternative avenue for hedging against market volatility.
Coinbase Expands with PAX Gold Futures
Coinbases move to introduce PAX Gold perpetual futures enhances its trading capabilities. The gold-backed cryptocurrency offers traders a unique derivative option through its blockchain-based infrastructure. PAX Gold, initially launched by Paxos as an ERC-20 token, is backed by physical gold. Each token represents a portion of a London Good Delivery gold bar in secured vaults.
Significant $5.2 Million in Open Interest
The addition of PAX Gold futures saw open interest rise significantly to $5.2 million, suggesting strong trader interest. The rapid uptake indicates demand for stable, gold-pegged alternatives in volatile crypto markets. Traders view PAX Gold as a hedge against volatility, reflected by a 24-hour trading volume of $3.5 million. Its gold peg offers a stable investment option amid market turbulence, aligning with similar historical trends.
Increased PAX Gold Trading During Market Panic
During a recent global market panic, PAX Gold volumes soared, a testament to its perceived stability akin to physical gold. This pattern mirrors historic investor behavior during financial uncertainty. Experts from Kanalcoin suggest PAXG-PERPs stability could attract more institutional interest if turbulence persists.
PAX Gold continues to demonstrate its importance as a digital asset that mirrors the value of real-world gold. John Smith, CEO, Paxos
The emphasis on stability makes it a preferred option for cautious traders, according to past data.
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The post Coinbase Introduces PAX Gold Perpetual Futures Trading appeared first on Kanalcoin.
Read more: https://www.kanalcoin.com/coinbase-pax-gold-futures-launch/
Text source: Kanalcoin
