Tokenized Gold Sees Gains as Middle East Tensions Rise, While BTC Remains Steady Near $66.2K

Article shows PAXG and XAUT rising toward $5.4k as BTC, ETH, SOL fall during Middle East tensions.

Summary:
Tokenized gold options PAX Gold (PAXG) and Tether Gold (XAUT) have increased by 1-2% to approximately $5.4K amid escalating tensions in the Middle East, while major cryptocurrencies like Bitcoin, Ethereum, and Solana have seen declines over the past 24 hours.

Key Takeaways:

PAX Gold (PAXG) and Tether Gold (XAUT) gain around 1-2% as geopolitical tensions rise.
Bitcoin (BTC) sits near $66,200, marking a 3% decrease in the last 24 hours.
Ethereum (ETH) and Solana (SOL) also experience declines, with ETH hovering around $1,970 and SOL at $83.
The renewed interest in tokenized gold showcases its appeal as a safe haven during periods of instability.

Tokenized Gold's Resurgence Amid Conflict

In a recent post on X, CoinGecko highlighted that tokenized commodities like PAX Gold (PAXG) and Tether Gold (XAUT) have gained significant attention due to the ongoing US–Israeli conflict involving Iran. This increased interest corresponds with a notable rise in gold-backed cryptocurrencies. As of Monday, PAXG was priced around $5,409, fluctuating between $5,326 and $5,439 over the past day, with a market cap of about $2.6 billion. Meanwhile, XAUT was trading close to $5,318, up approximately 0.7% for the day, with nearly $932 million in 24-hour trading volume and a market cap of around $3.0 billion. Reports earlier in the day indicated that PAXG had jumped 6.13% to $5,513.28, while XAUT increased by 4.62% to $5,403.82, reflecting a shift in market sentiment toward safer assets.

Tokenized commodities such as $PAXG and $XAUT are among the most viewed cryptocurrencies today amid the ongoing US–Israeli conflict with Iran. pic.twitter.com/SdrrF7aueR
— CoinGecko (@coingecko) March 2, 2026

Commenting on the situation, industry expert Phil Herrmann from MEXC stated, “If there is a crisis, gold remains the favorite.” Other users observed a growing trend for gold in times of turmoil, while Bitcoin’s price appears stagnant, indicating differing levels of trust in these assets during such events. Phrases such as “real gold prevails when conflicts arise” capture the sentiment of the moment, emphasizing a collective return to traditional safe havens.

Bitcoin, Ethereum, and Solana on the Decline

While tokenized gold experiences gains, major cryptocurrencies are facing challenges. Bitcoin is trading around $66,200, marking a decline of roughly 3% in the last 24 hours. Its intraday price varied between approximately $64,350 and $68,235. Ethereum is resting near $1,970, having dropped about 2.5% within the day, with fluctuations between $1,940 and $1,980. Solana is trading at around $83, down roughly 4% over the last 24 hours, with an intraday range between about $81.9 and $86.7 and a market cap nearing $47 billion.

Overview of the Crypto Market

This notable uptrend in gold-backed tokens happens as digital assets continue to reflect macroeconomic risk appetite. Bitcoin is reported at approximately $66,200, with a 24-hour range of about $64,350 to $68,235, supported by significant trading volumes across exchanges. Ethereum is trading near $1,970 with over $21 billion in turnover and price movements mostly between $1,940 and $1,980. Solana is at $83, down 4% for the day, with nearly $4.4 billion in trading volume.

The surge in demand for tokenized gold highlights a fundamental truth about market behavior: during times of conflict, investors traditionally gravitate towards gold. However, this time, they are choosing to invest in such assets through blockchain technology. For those interested in tracking these developments, live pricing updates for PAX Gold (PAXG) and Tether Gold (XAUT) are available on crypto.news.