The historic Gold rally accelerated on Monday, with prices in cash a punch on $ 3,800 per ounce to establish a new record of all time, extending a hot year during which Bullion is up approximately 47% of years.
This increase resonates through cryptographic rails, with gold tokens climbing a high -level market capitalization of $ 2.88 billion, according to Coingecko data. The tokenized versions of the metal are supported by physical reserves but are established on blockchain rails, offering an exchange 24 hours a day and almost timely transfers.
and paxos’ The two tokens issued by companies mainly known for their stablescoins, dominate the category. The capitalization of XAUT is at nearly $ 1.43 billion and the PAXG at around $ 1.12 billion, both at their heights of all respective time.
Liquidity also inflated along the rally. The PAXG attracted more than $ 40 million in net admissions in September and set a new negotiation volume record exceeding $ 3.2 billion in monthly turnover.
Xaut also displayed a record of $ 3.25 billion in monthly volume, by Defillama. Meanwhile, the growth in the token market capitalization came only from the appreciation of the underlying metal, because no new typing of token occurred this month after the jump of $ 437 million in August.
The tokenized gold market could continue to win because the macro-waonditions remain favorable to yellow metal. Investors’ expectations rise for more reductions in the federal reserve and a softer US dollar, while anxiety is based on a possible government closure in the United States, during this time, Often nicknamed “digital gold”, is lagging behind with a 22% year-old yield.
Read more: Bitcoin to join gold on the reserve assessments of the central bank by 2030: Deutsche Bank
