With exchanges like Coinbase and Hyperliquid looking to tokenize stocks, onchain gold continues to do well, with cumulative trading volumes at all-time highs.

The trend began in April when the price of spot gold skyrocketed due to economic uncertainty driven by the United States’ tariff policies. However, now that crypto markets have recovered from their April lows, onchain gold trading activity is not only sustaining, but accelerating.

Over the last two weeks, the aggregated trading volume of Tether Gold (XAUt) and Paxos Gold (PAXG) reached $236 million, with PAXG accounting for roughly 68% of the total.

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