On September 4, Coingeek reported that the surge in gold prices had pushed the tokenized gold market to over $2.5 billion. Tokenized gold allows investors to gain exposure to physical gold without having to purchase, transport, or store the physical asset.
Currently, the tokenized gold market is dominated by Tether's XAUT and Paxos's PAXG. In August alone, XAUT saw approximately $437 million in new issuance, while PAXG attracted approximately $141.5 million in June.
As of now, PAXG's total market capitalization has reached $985 million, ranking first, followed by XAUT with a market capitalization of approximately $859 million. This trend not only highlights the wave of asset tokenization, but also means that future discussions of the gold market (and indeed other precious metals or assets) must increasingly consider the performance of their tokenized counterparts.
