Binance gold-backed products generated more than $325 million in spot turnover over seven days, a level surpassed only during their opening surge, analyst Darkfost wrote in a CryptoQuant post.
Darkfost cautioned that turnover does not show whether traders ended the period with more or less gold exposure. The analyst said tokenization gives crypto-platform users a way to access gold.
Trading volume reached $78 million on Nov. 5. Cumulative volume for the Binance products has passed $8 billion since trading began.
Darkfost also cited CoinGecko figures placing commodity-backed tokens at nearly $6 billion in market value, with gold-linked products accounting for a substantial share.
