Gold Volatility Fails to Slow Tokenized Gold’s $6 Billion Rise
BeInCrypto
The tokenized gold market has surpassed $6 billion despite recent volatility in physical gold prices.Summary
The tokenized gold market has surged past $6 billion, growing by over $2 billion since the start of the year, with 1.2 million ounces of physical gold now backing these digital tokens. Tether Gold (XAUT) dominates the sector with a $3.5 billion market cap, accelerating its gold accumulation strategy and making strategic investments, such as a $150 million stake in Gold.com, while also launching the 'Scudo' measurement unit. PAX Gold (PAXG) is the second largest player. This growth occurs while physical gold prices experience significant volatility, having recently corrected sharply after hitting a record high of $5,602 per ounce.
(Source：BeInCrypto)