Gold Approaches $3,000 as Tokenized Assets Gain Momentum

Gold, traditionally viewed as a store of value, is approaching the $3,000 mark, currently trading above $2,700 and reaching new all-time highs.

This surge may prompt investors to shift capital towards Bitcoin, potentially pushing its price past $74,000.

Recent analysis from Arkham, a blockchain intelligence firm, reveals a wallet holding over $250 million in Tether Gold, equivalent to approximately three tons of the precious metal. While the wallet’s owner remains unidentified, Arkham speculates it could belong to RhinoFi, a layer-2 bridge that has processed over $2.3 billion in assets through more than 48.8 million transactions across 31 chains.

Tether Gold functions as a stablecoin linked to the real-world value of gold, with over 246,520 tokens minted on Ethereum as of October 22. The growing interest in tokenized assets reflects the increasing adoption of USD-backed stablecoins, which are becoming essential, particularly in emerging markets.

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The tokenization trend is gaining traction, with BlackRock’s CEO predicting the market could reach trillions in value in the coming years. Currently, over $7.9 billion worth of assets have been tokenized, primarily on platforms like Ondo and Pendle.

Kostadin Dimitrov