A tokenized metal is a blockchain token backed by a fixed weight of physical bullion held in a vault. Gold dominates: PAX Gold (PAXG) and Tether Gold (XAUT) are the two largest, each redeemable for one troy ounce, followed by gram-denominated tokens such as Kinesis Gold (KAU) and Matrixdock Gold (XAUM). Silver (Kinesis KAG) and platinum tokens exist at smaller scale.
The token price should sit very close to the spot price of the metal it represents. A persistent premium usually reflects demand for on-chain gold outrunning the issuer's minting; a discount usually reflects thin liquidity on the venues that list the token. Comparing PAXG and XAUT against each other is the quickest sanity check, since both track the same ounce.
Market capitalisation here equals ounces or grams tokenized multiplied by the metal price, so it is a direct read on how much bullion has moved on-chain. Volume shows how actively that gold changes hands on crypto venues.
Anytime Capital does not currently offer trading in metal-backed tokens; this page is a market data reference. Members can buy, sell and hold the cryptocurrencies and stablecoins listed on the Explore crypto page with same-day USD settlement.