The gold market finds a transition to the activity, with the purchase of the central bank and is required from funds that the exchange has exchanged and growing the gold cryptocurrencies. The latter recently moved to a three high -year -old, as measured by the net minint volume for tokens supported by precious metal.
More than $ 80 million worth of tokens has been printed in the last month, according to data from rwa.xyz. That boost helped push the sector market cap of 6% to $ 1.43 billion. Meanwhile, the monthly transfer volume rose by 77% to $ 1.27 billion, marked a sharp resurgence of interest in the digital representations of precious metal.
Increasing token activity reflects a greater trend in the gold market.
Latest World Gold Council Report It is shown that the total gold demand in the first quarter of the year reached 1,206 tons-a 1% year-to-year increase and the strongest first quarter since 2016. Advancement has come across a slowdown in central bank purchases, which fell to 244 tons, down from 365 tons in the fourth quarter.
Gold ETFs play a key role in the shift. Investment demand has more than double to 552 tons, suggesting investors are moving to precious metal, a transfer of central banks is known for history.
Those streams helped push the average quarterly price of gold to a record of $ 2,860 per ounce, up to 38% from last year. However the price faded by 2.35% last week, after an increase of 23.5% year-to-date, while risk properties, including cryptocurrencies, Rose. Spot Gold is currently trading at $ 3,240.
While the traditional demands of gold, such as jewelry, saw a fall-falling in pandemia weather-the bar and demand coins remained elevated, especially in China.
Read more: Tokenized Gold Surges above $ 2B Market Cap While Tariff Fear of SPARK SAFE HAVEN TRADE
