PAX Gold active wallets hit record high as profits peak despite 26% price drop since January

PAX Gold (PAXG) saw its daily active addresses reach an all-time high on July 6, while realized profits hit a five-month peak, indicating growing user engagement and profit-taking amid gold's rally. Despite trading 26% below its January peak of $5,619, PAXG maintains a $1.8 billion market cap backed by physical gold. The token's rising wallet activity suggests expanding adoption beyond initial users, though profit-taking may signal short-term price consolidation. Competition with Tether's XAUT and Paxos' regulatory compliance remain key factors for investor confidence.