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Top 3 Commodity-Backed Tokens in 2021

Published 06/08/2021, 12:00 PM
© Reuters.  Top 3 Commodity-Backed Tokens in 2021

  • AABBG is a 100% gold-backed token supported by a minimum of 0.1 g of the gold spot price.
  • AGX token is backed by silver, looking to turn the commodity into active currency.
  • The Venezuelan Petro is oil-backed crypto, that has huge potential to rise in 2021.

Sometimes the pitfalls of cryptocurrencies seem to be larger in number than their benefits. This is especially with regard to the current market situation, where Bitcoin saw a huge drop in value in response to ‘crypto king’ Elon Musk’s comments, consequently lowering most major altcoins’ value.

At a time when market volatility in crypto has started to dissuade investors from trading, a newer, more stable asset is gaining popularity. Aptly named Stablecoins, these are physical asset-backed cryptocurrencies. The most well-known of these is Tether, the crypto tied to the US dollar.

However, further innovation led to an even better technology, one that was also immune to inflationary fears.

Commodity-backed cryptocurrencies are all the ra...

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