Gold-backed stablecoins are booming: surpassing $4 billion in scale, with Tether Gold and Paxos Gold dominating 90% of the market

【Crypto World】Gold-backed stablecoins have performed strongly this year. The total market size has surpassed $4 billion, nearly tripling the level at the beginning of the year.

The market structure is highly concentrated. Tether Gold dominates the market, accounting for about $2.2 billion, almost half of the market share. Paxos Gold follows closely behind, with a market value of approximately $1.5 billion. Together, the two leading products control nearly 90% of the market share.

Looking at the performance of spot gold helps explain why. Since the beginning of the year, gold prices have increased by about 66%, with a very strong upward trend. Tether has also been active during this rally, continuously increasing its gold reserves. As of the end of September, data shows that Tether has accumulated about 116 tons of gold. This scale clearly indicates the strong confidence institutions have in gold-backed stablecoins.