Tether's gold-backed token has surpasses $2 billion in market cap

Tether recently shared its report for the third quarter regarding Tether Gold tokens, confirming that each token is fully backed by physical gold stored in ￰0￱ followed data from TG Commodities ￰1￱ C. V., based in El Salvador, which highlighted that as of September 30, Tether’s reserves consisted of 375,572 fine troy ounces of ￰2￱ on its end-of-quarter reference price, the value of this gold was estimated to be about $1.44 ￰3￱ stablecoin issuer also noted that approximately 522,089 XAUT tokens are in circulation, and an additional 139,751 tokens are currently available for ￰4￱ illustrated the availability of more stock that had been allocated but not yet ￰5￱ Gold tokens play a significant role in blockchain technology Following Tether’s recently shared report about Tether Gold tokens, sources indicate that the market value of XAUT has significantly increased, reaching a new record of approximately $2.1 billion amid rising gold ￰6￱ record is more than doubling from less than $850 million in ￰7￱ situation triggered the CEO of Tether, Paolo Ardoino, to comment, stating that Tether Gold demonstrates that real-world assets can thrive on blockchain without ￰8￱ further highlighted, “With gold prices reaching record highs and growing interest from institutions in tokenized assets, XAU₮ symbolizes the future of asset ownership—where physical security meets digital freedom.” Regarding his remarks, analysts revealed that when Tether Gold and PAX Gold are combined, they account for around 90% of the $3.7 billion market for tokenized ￰9￱ also acknowledged that the token is one of the blockchain’s most significant real-world asset products.

Additionally, it is part of a larger trend in the crypto ecosystem whereby institutions and regulators are shifting their focus towards tokenization. Interestingly, even the US regulators have expressed growing interest in the ￰10￱ support this claim, sources close to the situation mentioned that Hester Peirce, the current commissioner at the Securities and Exchange Commission (SEC), who serves on its crypto task force, stated that tokenization is now a key focus for the ￰11￱ also emphasized the significance of introducing traditional assets such as stocks and Treasuries onto the blockchain as a common policy and market ￰12￱ warn that gold’s record-breaking rise might be coming to a stop The increase in tokenized gold also reflects a broader shift that some individuals on Wall Street refer to as the “debasement trade.” In a statement, BlackRock’s CEO, Larry Fink, highlighted that this week, he discovered that investors viewed gold and crypto as “assets of fear” due to growing concerns about national debt and currency decline in the industry.

Hence, according to him, they considered them financial and physical safety protection. However, despite the benefits surrounding gold, analysts have warned that gold’s record-breaking increase may come to an ￰13￱ months of an unstoppable monster rally, gold has finally run out of ￰14￱ previously reported by Cryptopolitan, the metal that broke records to reach $4,400 an ounce is now collapsing back below the $4,000 level , forcing traders to face what the charts indicate — this is a consolidation, not a total ￰15￱ up to the Gold Bullion ￰16￱ to Katie Stockton, both gold bullion and mining shares are beginning an extended ‘time out’ period, which may not end until well into ￰17￱ closed below its “psychological” floor over the past week and has generated a solid sell signal from its daily MACD indicator, indicating that short-term momentum has shifted to the ￰18￱ announcement was released after Capital Economics informed Business Insider that the surge appears to be mostly driven by the fear of missing out, leading to a “mini-bust.” Regarding these concerns, they shared their forecast that gold prices could fall back to $3,500 per ounce by ￰19￱ your strategy with mentorship + daily ideas - 30 days free access to our trading program