Tokenized gold has surpassed $4 billion in market value as spot gold reached a new all-time high this week, reflecting growing interest in onchain commodities amid global market uncertainty.
Tether Gold (XAUT) has about $2.5 billion in total assets, while Paxos Gold (PAXG) stands near $1.99 billion, according to DeFiLlama data. Both tokens are designed to track the price of an ounce of physical gold. PAXG saw about $533 million in 24-hour trading volume, while XAUT recorded around $266 million, per CoinGecko.
The milestone comes as gold prices pushed higher this week, trading around $4,986 per ounce on Friday. This is up about 1.6% on the day, according to GoldPrice.org.
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