In the wake of escalating tensions between Hamas and Israel, gold-backed cryptocurrencies have emerged as the top gainers among the 100 leading cryptocurrencies by market capitalization. This surge in value is directly correlated to the rising price of gold, which experienced an upswing due to the recent conflict.
What Happened: Among the notable gainers are Tether Gold (CRYPTO: XAUt), Monero (CRYPTO: XMR), and PAX Gold (CRYPTO: PAXG), all experiencing over a 1% increase in value today. This momentum in the gold-backed crypto market comes as other major cryptocurrencies, including Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), faced a decline along with ...