The tokenized gold market approaches $3 billion, reaching a record high.
Jinse Finance reported that against the backdrop of spot gold prices surpassing $3,800 per ounce, the total market capitalization of the tokenized gold market reached a historic peak of $2.88 billions on September 29. The two major gold tokens, XAUT and PAXG, both saw monthly trading volumes exceed $3.2 billions, with PAXG recording a net inflow of $40 millions in a single month. Analysts pointed out that expectations of a Federal Reserve rate cut, inflationary pressures, and a potential government shutdown have jointly driven this round of gold price increases. In comparison, gold's year-to-date increase of approximately 47% has far outperformed bitcoin's 22% gain. Tokenized gold, with its 24/7 trading and on-chain instant settlement features, is becoming an important supplementary channel for traditional gold investment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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