PAXG Prices Soar 8%, Binance Futures Jump Over 16% Amid Forced Liquidations

A surge in the price of tokenized gold asset PAXG, reaching highs of $4,800, has been triggered by forced liquidations and rising gold prices. Binance futures saw a 16% spike in response to these events. Key takeaways include: large liquidations on Binance fueled the price increase, and Binance futures experienced a significant surge alongside spot market activity exceeding $10 million. 8% PAXG surges were reported across various exchanges, with a corresponding increase in trading volume.