$6.1 Billion Tokenized Gold Emerges as Price Discovery Venue Over the Weekend
According to analysis by Coin Metrics, tokenized gold and hyperliquid on-chain perpetual futures have been used as a price discovery venue during traditional market closures. While geopolitical shocks have caused fluctuations in gold and oil prices, blockchain-based assets continued to facilitate trading and settlements over the weekend. Paxos Gold and Tether Gold are presented as on-chain alternatives for one ounce of gold, with a combined market size reaching $6.1 billion. The trading volume of tokenized gold spot transactions on major centralized exchanges exceeded $1.8 billion in early 2026, surpassing $1 billion during heightened tensions. Ethereum on-chain trading volumes also exceeded $1.4 billion on two occasions. Tether reported that the reserves for Tether Gold amount to 700,774.139 fine troy ounces, with a market value of $3.33 billion. Hyperliquid's HIP-3 allows third parties to deploy perpetual futures markets, with cumulative trading volumes exceeding $95 billion. In the oil market, USDC-based CL-USDC contracts rose to about $109 over the weekend, with open interest and trading volumes increasing to $175 million and $1.9 billion, respectively. In the domestic market, tokenized real assets are expanding due to trading hour issues, and this case demonstrates that tokenized gold and on-chain perpetual futures can generate price signals even over the weekend. Coin Metrics noted that this market is in its early stages and is constrained by liquidity and regulatory uncertainties.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

Perp DEX Trading Volume Reaches $423 Billion in 30 Days, Hyperliquid Holds 58% Market Share

Beyond the rally: 4 Trends to watch this cycle

Hyperliquid HIP-3 Open Interest Decreases by $1 Billion

Ethena Announces Plans to Enter Stock Perpetual Futures Market

Ethena Expands Arbitrage Strategy to Stock Market

NVIDIA Reports $96.2 Billion in Revenue, Cryptocurrency Stocks Rise

Robinhood Chain Sees Over $100 Million Meme Coin, Crypto-Stock Pairing Boosts RWA

RWA Weekly: JPMorgan and Three Other Banks Advance Global Stablecoin Alliance; Coinbase Launches Tokenized Stocks on Base Network

Bitwise crypto ETFs attract $100M in one day, led by Solana

Scroll Transitions to AI Agent-Focused Privatized L2

Reduction in Institutional Fund Outflows in July, ETF Rebounds at Month-End

Hyperliquid's perpetual contracts cover over 80 traditional commodities and stock markets, with a notional trading volume exceeding $500 billion

CoinGecko: Crypto hacks stole 3630000000 dollars from 245 incidents since 2025

xStocks Expands to 714 Stocks and ETFs

Former MAS official Ziqing Ang joins TRM Labs as APAC policy head

Rockawayx Acquires Relayer Capital, Incorporating 70% Return Long/Short Strategy

How Far Can HYPE Go After Reaching New Heights with USDC Reserve Earnings Buybacks?

HYPE whale adds $24M as a16z link remains unverified

CZ: Hong Kong and Web3 Form a Powerful Combination, RWA Will Become an Important Development Direction

Suspected a16z Rebuys 282,000 HYPE, Total Staked Reaches 4.679 Million

While Others Invest in AI, RockawayX Doubles Down on Crypto

Entropy: Controversy Over Fee Waivers and KOL Promotions Spreads

Hyperliquid group asks CFTC to allow energy perpetuals

$430.86 Million Inflow into BlackRock ETF

CZ: Hyperliquid's Entry into the U.S. Will Benefit the Entire Crypto Industry

Shen Yu's Latest Interview: Bitcoin is a Better Gold, Keeping an Eye on the AI Boom

HPC Proposes to SEC and CFTC: Call for Unification of Regulatory Framework for Stock Futures and Perpetual Bond Transactions

ARK Invest's Director of Digital Assets Criticizes Solana and Ethereum Proposals for Ignoring Competitiveness

Hyperliquid Launches USDC Yield Mechanism for HYPE Buyback and Burn










