Tokenized gold market cap hits record high of $1.4 billion as trading volumes surge in March
Christian Sandor | Edited by Steven Alpher Updated 28 Mar 2025 20:04 UTC Published 27 Mar 2025 20:11 UTC
According to CoinDesk Data’s monthly stablecoin report, the market cap of tokenized gold surged to a record $1.4 billion in March, with trading volumes reaching yearly highs.
The increase in market value and activity comes as physical gold prices have risen, reaching new all-time highs above $3,000 per ounce. Notable offerings include gold-backed tokens such as Tether (XAUT) and Paxos (PAXG), with market caps of $749 million and $653 million, respectively.
The report said that gold token trading volume for the month exceeded $1.6 billion, the highest in more than a year.
The report highlighted that the overall stablecoin market, including tokens that are pegged to fiat currencies and commodities, surpassed a market capitalization of $231 billion this month, posting 18 consecutive months of growth.
Tether’s USDT, the largest stablecoin on the market, also grew to a record supply of $144 billion. However, its market share fell to its lowest level (62.1%) since March 2023 as competition
Your email address will not be published. Required fields are marked *
[…] January 2022, the number of cryptocurrencies existing in the market increased by 1 thousand. This implies that each new…
Your writing is like a breath of fresh air in the often stale world of online content. Your unique perspective…
I would like to share my story and express my great gratitude to Maria. My husband Alexander was literally taken…