Commodity-backed tokens’ market cap rises to $5.9B, up 481% on year

Commodity-backed tokens’ market cap rises to $5.9B, up 481% on year The market capitalization of commodity-backed tokens has reached $5.87 billion, up 481% over the past year. Gold-backed tokens are leading the market, with XAUT at around $3.7 billion and PAXG at around $2.4 billion, accounting for about 95% of the total, according to Sentora. Sentora said "onchain gold is no longer experimental. It is functioning as a real trading and collateral asset."