The tokenized commodity market has reached a significant milestone, hitting $4 billion, marking an 11% increase over the past month. As of Friday, the market stood at $3.93 billion, with Tether Gold (XAUt) leading the charge at $1.74 billion, followed closely by Paxos Gold (PAXG) at $1.61 billion. On-chain analysis highlights that tokenized precious metals offer the advantage of being traded outside traditional market hours. However, their pricing and liquidity continue to depend on conventional financial systems, indicating a blend of new and old market dynamics.