Gold prices have increased by more than 27% against the USD since the end of 2024, driving demand for digital gold tokens such as PAXG and XAUT to surge. According to the latest data from Coingecko, the number of wallets holding PAXG from Paxos has increased by over 38%, from 35,193 wallets to 48,763 wallets. Meanwhile, Tether’s XAUT saw an outstanding growth of 172%, from 3,104 to 8,466 wallets. These two tokens currently account for 85.6% of the total market value of tokenized gold, which reached 2.05 billion USD.
PAXG and XAUT are both backed by real physical gold, stored in professional vaults in London and Switzerland. Each token represents 1 ounce of international standard gold. The growth of the holding wallets indicates an increasing confidence in digital assets linked to precious metals, allowing investors to combine the stability of gold with the flexibility of blockchain.
Digital gold tokens are escaping from a niche position, gradually becoming a reliable channel for holding digital assets in the context of strong fluctuations in the global financial market.
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