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Gold-Backed Crypto Minting Volume Hits 3-Year High as Central Bank Demand Slows
Gold-Backed Crypto Minting Volume Hits 3-Year High as Central Bank Demand Slows
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Gold-backed cryptocurrencies are experiencing a surge in demand, with minting volumes reaching a three-year high. Over $80 million worth of these tokens were created in the past month, driving the sector’s market capitalization up 6% to $1.43 billion. Transfer volume skyrocketed 77% to $1.27 billion, signaling renewed interest in digital gold representations.
The trend contrasts with slowing central bank purchases of physical gold. According to the World Gold Council, total gold demand in Q1 reached 1,206 tonnes—a modest 1% year-over-year increase. This shift suggests investors are increasingly embracing tokenized alternatives to traditional gold investments.
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