Gold-backed tokens are setting new records as investor demand rises, with spot gold trading just below its April peak.
According to CoinGecko, the total market capitalization of tokenized gold has climbed to $2.57 billion, led by Tether’s XAUT and Paxos’ PAXG. XAUT supply expanded by $437 million to reach $1.3 billion following a 129,000-token mint on Ethereum last month, Etherscan data shows. PAXG also posted strong growth, swelling to $983 million in market size after attracting $141.5 million in net inflows since June, per DefiLlama.
Gold itself hovered near $3,470 on Tuesday, supported by safe-haven demand and a steepening U.S. Treasury yield curve, placing it within reach of April’s $3,490 record.
