Tokenized Gold Market Reaches $2.57 Billion Amid Rising Prices
The market capitalization of crypto tokens backed by gold has reached an all-time high of $2.57 billion, as gold approaches its April peak.
- Tether's XAUT token supply increased by $437 million to a record $1.3 billion.
- XAUT saw 129,000 new tokens minted in early August on the Ethereum network.
- PAXG from Paxos grew to a market size of $983 million, with $141.5 million in net inflows since June.
Gold is currently trading at approximately $3,470, influenced by changes in the U.S. Treasury yield curve.