PAXG (PAX Gold) recorded its fourth straight day of all-time highs on October 16, marking one of the strongest crypto performances of the month. Traders point to increased demand for tokenized gold as investors seek a safe haven amid the U.S. government shutdown.

A recent study explores the dynamic roles of gold and cryptocurrencies as safe havens for BRICS stocks during the prolonged Russia-Ukraine conflict, highlighting their varying effectiveness in market shocks and investment strategies.