Tokenized Gold Surpasses $6 Billion Mark
The value of gold represented on blockchains has crossed the six billion US dollar threshold – an increase of two billion dollars since the beginning of the year.
The market for tokenized gold is experiencing significant growth. According to data from Dune Analytics, the market capitalization now stands at over six billion US dollars. A volume of approximately two billion dollars has been added since the beginning of this year alone [1].
The two dominant providers in this segment are Tether Gold (XAUT) and PAX Gold (PAXG), which together reach a valuation of more than 3.5 billion US dollars [1].
The strong increase is directly related to the positive performance of the gold price. The precious metal has gained 16 percent since the beginning of the year, while Bitcoin declined by 23 percent during the same period [1].
The growing demand is attracting new market participants. Kurt Hemecker, CEO of Gold Token S.A., emphasizes the attractiveness of the concept to BTC-ECHO: "Gold is a proven store of value. But we want to reimagine it for the 21st century" [1].
Tokenized gold combines the value stability of the physical precious metal with the technical advantages of blockchain technology and offers investors new access opportunities to the gold market.
Sources
- [1]btc-echo.de
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