Tokenized Gold Sees Surge in Popularity Among Crypto Traders
Crypto traders have shifted their focus to tokenized gold as an alternative to inflationary pressures. Tokenized gold, such as Tether's XAUT, has seen a surge in trading volumes and interest in August, with its price reaching $4,600 before retreating slightly.
XAUT is still the leading tokenized gold asset, with over $3.15B in value and 84,756 wallets holding it. The token has also seen increased decentralized exchange (DEX) activity, with over $53K active addresses moving $4.6B through XAUT in August.
The trend of on-chain gold is driven by Tether's XAUT, which has expanded its minting in the past three months and seen its trading volumes remain near peak levels for 2026. XAUT gained decentralized activity through usage as collateral in lending and saw more active DEX trading in August.