Mars Finance news shows that the market capitalization of tokenized gold has surpassed 4 billion USD, nearly tripling from about 1.3 billion USD at the beginning of 2025. Among them, Tether Gold (XAUt) ranks first with a market capitalization of about 2.2 billion USD, accounting for approximately 50% of the market, while Paxos Gold (PAXG) ranks second with about 1.5 billion USD, together occupying nearly 90% of the tokenized gold market share.