Santiment said wallet activity in PAXG climbed to an all-time high while profit-taking accelerated, with exchange outflows and new-wallet buying pointing to continued interest in the tokenized gold asset.
PAX Gold (PAXG) recorded an all-time high in daily active addresses on July 6, while network realized profits rose to their highest level in five months, according to on-chain analytics firm Santiment. The mix suggests holders are taking gains during gold’s recent rally even as broader engagement with the tokenized commodity expands. Santiment said daily active addresses rose to 8,830, a record high, while realized profits reached $6.77 million. Gold gained 2.45% over the past seven days, though it was down 0.39% on the day at the time of writing, helping draw attention to tokenized gold as traders looked for a more defensive and liquid way to keep capital on-chain. Each PAXG token tracks one fine troy ounce of physical gold, giving crypto holders exposure to the metal without leaving blockchain-based markets. While the jump in realized profits points to profit-taking that could create short-term selling pressure, Nansen data showed $6.9 million in net exchange outflows over the past 24 hours, about 3.7 times above average, alongside $1.8 million of accumulation by newly created wallets. Over the past seven days, exchange net outflows continued and profit-taking by the largest holders remained relatively limited at $105,400, a pattern that suggests accumulation rather than broad distribution. The next catalysts for PAXG and gold are likely to be the release of the Federal Reserve’s June meeting minutes on Wednesday and the June U.S. inflation report on July 14.