Tokenized gold assets grew by more than $362 million in 30 days, with Tether Gold (XAUT) accounting for $237 million of that gain. Aave V3 now holds over half of all tokenized gold used as DeFi collateral, though only a small fraction of the market is deployed that way.
Tokenized gold added more than $362 million in market cap over the past 30 days, and Tether Gold (XAUT) drove roughly two-thirds of that gain on its own. The token now carries a market cap near $2.48 billion, with each coin priced around $4,040 and backed by one fine troy ounce of physical gold held in Swiss vaults.
The $237 million XAUT added in a single month equals roughly a 10% increase relative to its own market cap. Tether Gold and rival Paxos Gold (PAXG) together account for between 93% and 97% of the $5 billion to $6 billion tokenized gold market, depending on the measurement period.
Separately, Aave V3 now controls over 50% of all tokenized gold deposited across DeFi lending protocols, according to Coinbureau. PAXG has served as Aave V3 collateral since the protocol launched, and governance proposals to add XAUT began circulating in mid-2025.
Combined PAXG and XAUT collateral on Aave V3 and Morpho sat at approximately $63 million as of early-to-mid 2026. The two tokens carry a combined market cap of roughly $4.2 billion, which means only about 1.5% of tokenized gold is actively deployed as collateral on major DeFi platforms — even as tokenized gold trading volumes surpassed $90 billion in Q1 2026.
Sources: Crypto Briefing, Crypto Briefing
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