While the price of gold is at the cusp of destroying its April climax, the size of the crypto tokens market supported by precious metal has emerged in fresh all-time highs.
The general capitalization of the tokenized gold market leads to $ 2.57 billion, Coingecko data The shows, as two top offerings, Tether’s PAXG ‘PAXG’ tokens, have seen a huge flow recently. Both tokens are designed to monitor the price of gold and are supported by physical bars held in vaults.
Xau (XAUT). Tether’s Treasury Minted 129,000 token in early August on the Ethereum Network, Blockchain data Through the Ethercan shows.
Paxg (Paxg). That has been the $ 141.5 million net inflows in the token since June.
Gold is currently exchanged around $ 3,470, shy only at the peak of April 22 that hit the middle of the tariff tantrum.
The precious metal, which is widely regarded as a safe shelter of shelter in times of uncertainty, has been resurrected recently, driven by a steep US yield curve.
Read more: The gold rally has a huge catalyst, and it will also help bitcoin
