The largest representatives of "gold tokens" are $PAXG from Paxos and XAUT from Tether. According to The Block on December 17, their total capitalization accounts for about 87% of the entire market, with values of $1.5 billion and $2.25 billion.

In early December 2025, the capitalization of the gold-backed token sector exceeded $4 billion for the first time in history, representing a growth of more than three times compared to the beginning of the year. The main portion of the increase came from PAXG and XAUT — their values at the beginning of the year were $525 million and $645 million.#PAXG $BNB $BTC