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.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.