Lately, since every exchange lists crypto assets tied to gold indexes, let me give a small warning to those who misunderstand; what you are actually buying is a stablecoin, which is not traded at a fixed price pulled from the central bank. Just like in any token, if many people buy at the same time, it rises; if many sell at the same time, it falls. Comparing its chart on the exchange to real gold prices is like comparing an apple to an orange. The advantage is that since the price eventually balances at the real value, if it deviates significantly from the gold price, arbitrage trading can generate profit. Apart from strange volatility days in dollar-pegged stablecoins against the TL parity, there aren't many opportunities, but from what I see, this volatility on the gold side earns some people good, quick profits.
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Lately, since every exchange lists crypto assets tied to gold indexes, let me give a small warning to those who misunderstand; what you are actually buying is a stablecoin, which is not traded at a fixed price pulled from the central bank. Just like in any token, if many people buy at the same time, it rises; if many sell at the same time, it falls. Comparing its chart on the exchange to real gold prices is like comparing an apple to an orange. The advantage is that since the price eventually balances at the real value, if it deviates significantly from the gold price, arbitrage trading can generate profit. Apart from strange volatility days in dollar-pegged stablecoins against the TL parity, there aren't many opportunities, but from what I see, this volatility on the gold side earns some people good, quick profits.