The market for gold-backed crypto tokens has reached a new record high of $2.57 billion, driven by the rising demand for safe-haven assets and gold prices nearing their all-time peak. Data from CoinGecko shows the tokenized gold market cap surging to this milestone, with Tether’s XAUT and Paxos’ PAXG as key contributors. XAUT has experienced a significant $437 million surge in its supply during August, while PAXG attracted an impressive $141.5 million in inflows since June. Tether’s XAUT** and **Paxos’ PAXG** are the leading products driving this growth. Market analysts point to rising demand for safe-haven assets as a key factor behind the increase. These tokens offer investors exposure to physical gold through a digital format, allowing tracking of spot prices. The surge in tokenized gold coincides with gold prices nearing their all-time high set in April. This rally has been fueled by increased investor confidence in gold as a safe-haven asset, especially during periods of economic uncertainty and geopolitical turmoil.