Tether Gold and Pax Gold lead the gold-linked token market as it grows rapidly amid soaring gold prices

As gold (gold) hits new all-time highs, cryptocurrencies that are secured by physical gold and linked to the price of gold also hit new all-time highs, and their presence in the cryptocurrency market is growing. Tether Gold (XAUT) and Pax Gold (PAXG) are dominating the top of the tokenized gold market.

At the time of writing, the market capitalization of the gold token market is approximately $2.145 billion (306.7 billion yen), but Tether Gold is approximately $829.55 million (118.6 billion yen) and Pax Gold is approximately $794 million (113.5 billion yen), with both tokens accounting for more than 75% of the market.

The gold price is 4...