Commodities
PAX Gold Price Surges on New DeFi Lending Markets
The price of PAX Gold (PAXG) has broken higher after a strong boost in gold-backed DeFi. The rise is linked to new lending markets that allow holders to borrow and lend against their gold-backed tokens, adding real utility on top of price strength.
This development has caught the attention of traders who are wondering if it's time to buy PAXG. The current breakout setup is strong as long as the price holds above $4,319.01.
Kamino, an official DeFi protocol on Solana, announced 24/7 credit markets for tokenized gold. This update lets PAXG holders access liquidity against their PAXG in a fully isolated market, unlocking the ability to borrow, lend, and leverage gold-backed credit.