Data: As the cryptocurrency market falls over 21%, tokenized gold protocol rises by 62%
Due to geopolitical turmoil and U.S. tariff policies, gold prices have continued to hit historical highs in 2026, reaching as much as $5,417 per ounce at the end of January this year, and recently maintaining above $5,000. The strong performance of gold has driven rapid growth in tokenized gold protocols: according to DefiLlama data, Tether Gold has grown 62% year-to-date to $3.7 billion, and Paxos Gold has increased 48% to $2.4 billion. The broader tokenization platform Ondo Finance and Securitize have also recorded double-digit growth.
In contrast, the overall cryptocurrency market is under pressure, with the global market cap dropping over 21% since January 1, and Bitcoin has erased all gains made after Trump's election in 2024. The DeFi leader Aave has seen its deposit size shrink by over 19%.
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