Tokenized commodities are increasing amid growing investor demand for more accessible onchain financial products, following new all-time highs for gold and silver.
Blockchain-based tokenized commodities are nearing the $4 billion milestone, following new all-time highs reached by the world's leading precious metals.
Gold, silver and platinum hit record highs on Friday, with spot gold rising as high as $4,530 per ounce, TradingView data shows. Silver, currently not a major contributor to the tokenized commodities market, briefly touched an all-time high of $74.56 per ounce.
Tokenized commodities rose 11% in the month leading to Friday, reaching $3.93 billion, according to data aggregator RWA.xyz. Tether Gold (XAUt) was listed as the largest tokenized commodity, worth $1.74 billion, followed by Paxos Gold (PAXG) at $1.61 billion.
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