The market cap of stablecoin that have gold as a collateral remained relatively unchanged since February 2020. These type of digital assets were far less common than stablecoins backed by USD, however. Tether (USDT), USD Coin (USDC), and Binance Coin (BUSD), for example, have market caps that are worth several times the numbers presented by Paxos Gold and Tether Gold (xAUT). There are, however, different example of these so-called collateralized stablecoins, or stablecoins that are entirely or near entirely backed up by a reserve asset.
Estimate of the market capitalization of gold-backed stablecoin from February 2020 to June 22, 2022
(in billion U.S. dollars)
No figures are available from before February 2020; The chart is interactive: Clicking on the coin names allows for filtering figures per individual stablecoin
Supplementary notes
Monthly figures are as of the end of that particular month.
Figures have been rounded.
Note that due to changing exchange rates, the USD values as reported can change from day to the next. This also applies in retrospect.
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Coin Metrics. (June 23, 2022). Estimate of the market capitalization of gold-backed stablecoin from February 2020 to June 22, 2022 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 13, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1316187/gold-backed-stablecoin-market-value/
Coin Metrics. "Estimate of the market capitalization of gold-backed stablecoin from February 2020 to June 22, 2022 (in billion U.S. dollars)." Chart. June 23, 2022. Statista. Accessed November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1316187/gold-backed-stablecoin-market-value/
Coin Metrics. (2022). Estimate of the market capitalization of gold-backed stablecoin from February 2020 to June 22, 2022 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1316187/gold-backed-stablecoin-market-value/
Coin Metrics. "Estimate of The Market Capitalization of Gold-backed Stablecoin from February 2020 to June 22, 2022 (in Billion U.S. Dollars)." Statista, Statista Inc., 23 Jun 2022, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1316187/gold-backed-stablecoin-market-value/
Coin Metrics, Estimate of the market capitalization of gold-backed stablecoin from February 2020 to June 22, 2022 (in billion U.S. dollars) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1316187/gold-backed-stablecoin-market-value/ (last visited November 13, 2024)
Estimate of the market capitalization of gold-backed stablecoin from February 2020 to June 22, 2022 (in billion U.S. dollars) [Graph], Coin Metrics, June 23, 2022. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1316187/gold-backed-stablecoin-market-value/
