Analysis: Binance Tokenized Gold Cumulative Volume Tops $8 Billion, 7-Day Volume Hits Record High

November 8: CryptoQuant analyst Darkfost noted that tokenized gold trading is heating up again as the crypto market weakens. Since launch, cumulative spot volume for gold-backed products on the Binance platform has exceeded $8 billion; excluding the initial post-launch trading peak, the past 7 days saw volume hit a record high of more than $325 million, with a single-day volume of $78 million on November 5.

According to CoinGecko data, the total market cap of tokenized assets is about $50 billion, of which commodities account for close to $6 billion, with gold making up a relatively large share. Darkfost said gold prices have pulled back more than 30% since the start of the year and are now stabilizing around $4,000 per ounce, and that trading volume alone cannot determine whether investors are adding to or reducing their gold exposure.