The combined market capitalization of gold-backed digital assets has surpassed the $3 billion mark.
This movement is driven by the recent increase in the price of the precious metalwhich has reached new all-time highs above $4,000 per ounce.
The milestone underscores a growing investor interest in gaining exposure to gold through tokenized representations on various cryptocurrency networks.
The following graph shows the top gold-pegged tokens and how the market capitalization of this niche has grown over time:
The tokenized gold market is mainly led by two assets: Tether Gold (XAUT) and PAX Gold (PAXG). Together, these two digital assets account for the majority of the total capitalization. XAUT, issued by the same company as the USDT stablecoin, has a capitalization of approximately $1,521 million. For its part, Paxos’ PAXG follows closely with a market valuation of around $1,212 million.
This growth in the valuation of tokenized gold It occurs in a context of search for value havens by investorsas CriptoNoticias has shown.
The ability of these assets to offer exposure to the price of gold, combined with the ease of transaction and divisibility offered by cryptocurrency networks, positions them as an increasingly attractive alternative to traditional methods of investing in the metal.