The total market capitalization of gold-backed digital assets exceeded $3 billion.
This movement is Due to the recent rise in precious metal prices,reached an all-time high of over $4,000 per ounce.
This milestone highlights the growing interest of investors in gaining exposure to gold through tokenized representations on various cryptocurrency networks.
The following graph is Top Gold Fixed Tokens And how the market capitalization of this niche market has grown over time:
The tokenized gold market is primarily led by two assets: Tether Gold (XAUT) and Pax Gold (PAXG).. Together, these two digital assets account for a large portion of the total capital. XAUT, issued by the same company as the USDT stablecoin, has a capitalization of approximately $1.521 billion. Meanwhile, Paxos’ PAXG follows with a market valuation of approximately $1.212 billion.
Increase in the valuation of tokenized gold Occurs in the context of the search for value havens by investorsas shown by CriptoNoticias.
The ability of these assets to provide exposure to the gold price, coupled with the ease of trading and divisibility afforded by crypto networks, is establishing them as an increasingly attractive alternative to traditional methods of investing in gold.
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