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Tokenized Gold Market Hits $2.57 Billion as Digital Assets Gain Traction
Tokenized Gold Market Hits $2.57 Billion as Digital Assets Gain Traction
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BTCCSquare news:
The tokenized gold market has surged to a record $2.57 billion in market capitalization, fueled by growing investor interest in crypto-backed precious metals. Tether's XAUT and Paxos' PAXG dominate the sector, accounting for the majority of activity.
XAUT saw $437 million in new supply minted in August alone, pushing its total market value to $1.3 billion. Meanwhile, PAXG attracted $141.5 million in net inflows since June. Both tokens are backed by physical Gold bars stored in secure vaults.
Gold prices hover NEAR $3,470 per ounce, approaching April's record high of $3,500. The rally in both physical and digital gold reflects heightened demand for alternative stores of value amid macroeconomic uncertainty.
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