Crypto investors pile into tokenised gold as ‘debasement trade’ fuels $4,000 break – DL News
- Tokenised gold is gaining popularity.
- It comes as the yellow metal’s price soars past $4,000.
- Investors are flocking to perceived stores of value like gold and Bitcoin as part of the so-called debasement trade.
Crypto investors are turning to tokenised versions of gold as the asset’s price breaks past $4,000, putting in its best year-to-date performance in over 45 years.
Tokenised gold refers to blockchain-based tokens that represent ownership of physical gold. There’s more than $3 billion worth of tokenised gold in circulation, according to CoinGecko data.
Since the start of the year, the number of crypto wallets holding tokenised gold has jumped 53%, according to data from rwa.xyz.
At the same time, the amount of tokenised gold in…
