18/12/2025
Market Cap of Gold-Backed Stablecoins Surpasses $4 Billion
A key feature of the current gold crypto rally is growth despite tight financial conditions.
π The market capitalization of gold-backed βstablecoinsβ has crossed the $4 billion mark. Since the beginning of the year, this figure has nearly tripled from $1.3 billion.
π₯ The segment leader is Tether Gold (XAUT) with a market cap of around $2.2 billion, accounting for 50% of the entire gold-backed stablecoin market. Second place is held by Paxos Gold (PAXG) at $1.5 billion. Together, these protocols control nearly 90% of the sector.
π Interest in tokenized metals is being fueled by the price dynamics of gold itself. In 2025, gold prices have risen by approximately 66%. Investors are using blockchain tools to gain exposure to traditional safe-haven assets without converting to fiat. Such tokens represent ownership of shares of physical gold bars stored in vaults.
π¦ A key growth driver has been central bank activity. Over ten months, the official sector purchased 254 tons of gold, with the National Bank of Poland leading the way by acquiring 83 tons.
π° At the same time, inflows into gold investment crypto funds (ETFs) were observed. In the first half of the year, gold ETF holdings increased by 397 tons, reaching a record 3,932 tons by November.
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