According to CoinMeta, cryptocurrencies backed by gold outperformed Bitcoin and Ethereum in the week leading up to November 9th. Tether Gold and Pax Gold each rose by more than 4% during this period, while spot gold increased by 3.72% to around $4,095 per ounce. In contrast, Bitcoin fell by 5.5%, and Ethereum fell by 8.5%. This performance during that time period demonstrates different reactions of digital assets when there is a divergence in their sources of fundamental value. Paxos indicates that Pax Gold holders possess rights to specific gold bars and provide independent monthly reserves certifications.