Tokenized gold assets have emerged as the primary channel for weekend gold price discovery, as the CME financial futures market remains closed during weekends. Iggy Ioppe, former Chief Investment Officer at Credit Suisse and current CIO at liquidity infrastructure firm Theo, highlighted that on-chain markets now handle nearly 100% of public price discovery over weekends. When futures markets reopen, prices often align with on-chain market trends. The tokenized gold market has seen rapid growth over the past year, with its market capitalization soaring 177% from $1.6 billion to $4.4 billion, and the number of holders approaching 120,000. In 2025, the trading volume for tokenized gold reached approximately $178 billion.