Trading in tokenized gold on Binance is climbing even as the wider crypto market weakens, crypto analyst Darkfost said on X. Volume for gold-backed products on Binance reached a record of more than $325 million over the past seven days, excluding the initial spike at listing.

Trading peaked at $78 million on November 5, the day US stocks sold off sharply. Cumulative volume for gold-backed products on Binance has passed $8 billion since launch.

Tokenized Assets Near $50 Billion

The total market value of tokenized assets is about $50 billion, according to CoinGecko. Commodity-backed tokens make up nearly $6 billion of that, and gold accounts for most of it.

Gold Steadies Near $4,000

Gold has fallen more than 30% from its high this year and is now stabilizing around $4,000 an ounce, according to Darkfost.