According to Coingecko data, the total market capitalization of tokenized gold has surpassed $5 billion, currently reaching $5,184,957,415, setting a new all-time high. Among them, Tether Gold (XAUT) has a market capitalization of approximately $2.598 billion, up 1% in the last 24 hours; PAX Gold (PAXG) has a market capitalization of $2.02 billion, up 1.1% in the last 24 hours. Tokenized gold refers to physical gold presented in digital form on a blockchain platform, with these tokens backed by an equivalent value of physical gold held in custody by the issuing institution.