Tokenized Gold Market Cap Tops $3 Billion as Bullion Hits $4,000

The market capitalization for tokenized gold assets has broken the $3 billion mark for the first time, according to CoinGecko data.

This surge comes as physical gold prices briefly touched a historic $4,000 per ounce, driving the value of leading gold-backed tokens like PAX Gold (PAXG) and Tether Gold (XAUT) to nearly the same level.

The milestone was accompanied by a significant spike in trading volume, which reached $640 million over 24 hours. The rally in gold tokens is part of a broader uptick in precious metals, with silver also hitting a multi-year high.