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Gold-Linked Tokens and Polygon Buck Crypto Market-Wide Downtrend

FTX’s disaster has caused the market to be filled with fear of uncertainty and doubt (FUD), and major cryptocurrencies related to Sam Bankman-Fried have suffered as a result, but Polygon (MATIC) and tokens backed by gold, have outperformed.

The price of Polygon’s MATIC token has gone up by 6% over the past week. By comparison, it’s competitor, Solana has seen the price of its token SOL dip by 46 %.

In addition to stablecoins, traders looking for a safe haven have turned to PAX Gold (PAXG) issued by Paxos, which has seen an 8.2% price increase.

Polygon Crypto FTX
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