'Tokenized gold' market cap surpasses US$4.2 billion…up 150% in 6 months

Thanks to the recent rise in gold prices, the market capitalization of 'tokenized gold' has surpassed US$4.2 billion (about 6.2 trillion won).

On the 17th (local time), according to CoinGecko, the market cap of tokenized gold exceeded US$4.2 billion that day. The market cap of tokenized gold surged 147% over the past six months. Cointelegraph reported, "About 90% of the current tokenized gold market is occupied by Tether (USDT)'s XAUT and Paxos's PAXG."

International gold prices, which had fallen after peaking last October, have recently shown a steep upward trend and are approaching an all-time high. Silver and copper prices have also recently hit record highs, and the prices of 'gold, silver and copper' are continuing a joint rally.

Platinum prices also at one point reached US$1935 per troy ounce that day, marking the highest level in 14 years since 2011. Platinum has faced a supply shortage due to production disruptions in major producing countries South Africa and Russia. The surge in gold prices has also significantly increased demand in China and elsewhere to buy relatively cheaper platinum.