The Market Capitalization of Tokenize Gold has Exceeded 1 Billion Dollars

The market capitalization of tokenized gold led by Tether Gold and PAX Gold has surpassed 1 billion dollars. In the last 24 hours, the market capitalization of tokenized gold, which had a transaction volume of approximately 25.5 million dollars, increased by 2.4% to exceed 1 billion dollars.

The term ‘tokenized gold’ refers to digital tokens that are tied to the price of gold and can be held and traded on centralized exchanges that use decentralized ledger technology such as Ethereum. Examples of tokenized gold include PAX Gold, launched by Paxos Trust Corporation, and Tether Gold, which is tied to the popular stablecoin USDT.

After experiencing banking crises, investors began to seek safe havens. The market capitalization of tokenized gold led by Tether Gold and PAX Gold has surpassed 1 billion dollars. In the last 24 hours, the market capitalization of tokenized gold, which had a transaction volume of approximately 25.5 million dollars, increased by 2.4% to exceed 1 billion dollars.

In the last 24 hours, as gold prices rose, PAX Gold and Tether Gold also rose above $2,000. While Tether Gold’s market capitalization is approximately $499 million, PAX Gold’s value is approximately $523 million. The market capitalization of Perth Mint Gold Token, the closest competitor, is $2.46 million.

Following banking crises, investors began to seek safe havens, leading to the popularity of traditional assets such as gold and tokenized gold. Especially leading tokens such as Tether Gold and PAX Gold are preferred as a safe haven among investors and their market capitalizations are rapidly increasing.

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