Gold’s historic rally accelerated Monday, with spot prices stopped through $ 3,800 per year. Ounce to set fresh record at all times, and extends a torrid year in which Bullion has risen almost 47% years to date.
This wave repeats across crypto rails, with gold-supported tokens climbing up to a high market capitalization of $ 2.88 billion, CoingeCko data shows. Tokenized versions of the metal are supported by physical reserves, but settles on blockchain rails that offer trade around the clock and almost instant transfers.
and paxos’ Both tokens issued by companies that are predominantly known for their stableecoins dominate the category. Xauts capitalization was close to $ 1.43 billion and PAXG’s at approx. 1.12 billion dollars, both at their respective highest time.
The liquidity is also swollen next to the rally. PAXG attracted more than $ 40 million in net flow during September and set a fresh trading volume record that surpassed $ 3.2 billion in monthly revenue.
Xaut also released a record $ 3.25 billion in monthly volume per month. Defillama. Meanwhile, token’s growth on the market came exclusively from the appreciation of the underlying metal, as no new token mint happened this month after August’s jump of $ 437 million.
The tokenized gold market could continue to win as macro conditions remain supportive of the yellow metal. Investors expectations are mounted for more cuts in the Federal Reserve and a softer US dollar, while anxiety builds over a possible government extinguishing in the US in the meantime, meanwhile, Often called “Digital Gold”, hangs behind gold with a 22% year to date return.
Read more: Bitcoin to participate in gold at Central Bank Reserve Balance in 2030: Deutsche Bank
