Tokenized gold has surpassed $3 billion in market cap, reaching a new milestone as investors seek traditional safe havens amid the US government shutdown, according to data from CoinGecko.
The rise of digital gold tokens such as PAX Gold and Tether Gold is directly linked to a historic surge in physical gold, which briefly surpassed the $4,000 per ounce mark for the first time.
This flight to safety is not limited to gold; silver has also reached its highest price since 2011.
The trend highlights how blockchain-based assets are increasingly acting as a digital conduit for traditional hedging strategies, allowing investors to gain exposure to precious metals without owning the physical commodity, while traditional stock markets also reach historic highs.