The tokenization of commodities is entering a new growth cycle. By 2026, the market capitalization of commodity tokens represented by Tether Gold and Paxos Gold has skyrocketed, breaking through the $4 billion mark, with the latest data showing a scale of $4.48 billion. What does this performance mean? Looking ahead, the growth rate over the past month is 18%, which is steady but not astonishing. The real focus is on the trading side—the monthly Transfer transaction volume soared to $5.48 billion, a 61% increase compared to the previous period. This indicates a significant increase in market activity, with real capital flowing. Even more interesting is the number of participants—the number of monthly active addresses is close to 30,000, a 47% increase in one month. This set of data signals that from market cap and transactions to user participation, tokenized commodities are gradually evolving from a concept into a genuine market force.