The market size of tokenized commodities approaches $4 billion, with gold reaching new highs and boosting attention on RWA.

According to Odaily, as the prices of gold, silver, and platinum reach new historical highs, the scale of on-chain commodity tokenization continues to climb, currently approaching 4 billions USD. TradingView data shows that spot gold once rose to $4,530 per ounce; RWA.xyz data indicates that the scale of tokenized commodities has increased by about 11% over the past month, reaching $3.93 billions. Among them, Tether Gold (XAUT) accounts for approximately $1.74 billions, and Paxos Gold (PAXG) about $1.61 billions, together dominating the market.

The report points out that tokenized precious metals enable 24/7 on-chain transfers and trading, but pricing, liquidity, and redemption still rely on traditional financial infrastructure. As part of the broader RWA sector, investment bank Standard Chartered expects that by 2028, the scale of tokenized RWA (excluding stablecoins) will rise to $2 trillions, with about $250 billions flowing into low-liquidity assets such as private equity and commodities.

In terms of underlying networks, Ethereum remains dominant, currently carrying about 65% of the tokenized RWA scale, equivalent to $12.7 billions; BNB Chain ranks second, accounting for about 10.5%. However, on-chain data shows that RWA-related activities still account for a lower proportion of overall fees and transactions compared to mature use cases such as stablecoins and token trading. (Cointelegraph)