Data: As the crypto market drops over 21%, the tokenized gold protocol rises up to 62%

PAXG-0.17%
XAUT-0.2%
ONDO4.88%
BTC6.18%

ChainCatcher News: Due to geopolitical turmoil and U.S. tariff policies, gold prices continue to hit record highs in 2026. At the end of January this year, gold briefly reached $5,417 per ounce and has recently remained above $5,000. The strong performance of gold has driven rapid growth in tokenized gold protocols: according to DefiLlama data, Tether Gold has increased 62% year-to-date to $3.7 billion, and Paxos Gold has grown 48% to $2.4 billion. Broader tokenization platforms Ondo Finance and Securitize also saw double-digit growth.

In contrast, the overall crypto market remains under pressure, with global market capitalization down over 21% since January 1. Bitcoin has even wiped out all its gains since Donald Trump was elected in 2024. Leading DeFi platform Aave’s deposits have shrunk by more than 19%.

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