Gold backed tokens worth over $80 million have been minted in the past month, and there has been a recent increase in market demand

Odaily Planet Daily News: Due to the recent increase in investor demand for gold, over $80 million worth of gold backed tokens have been minted in the past month, driving a 6% increase in the overall market value of such tokens to $1.43 billion. At the same time, the monthly transfer volume of gold backed cryptocurrencies has increased by 77% to $1.27 billion, indicating a significant increase in interest in digital gold assets. The latest report from the World Gold Council shows that the total demand for gold in the first quarter of this year reached 1206 tons, a year-on-year increase of 1%, which is the strongest growth rate in the first quarter since 2016. Analysis suggests that ETF investors and some cryptocurrency users are seeking on chain traceable hedging tools against the backdrop of rising gold prices, leading to an increase in interest in gold backed cryptocurrency assets. （CoinDesk）