The Busan Digital Asset Exchange (BDAN), the biggest interest in the blockchain industry, is emerging as a safe haven from Trump's tariff war. This is because the economic uncertainty has led to gold reaching an all-time high, causing 'digital gold' to rapidly rise as an investment alternative.
According to the 'Sengold' fractional investment platform operated by BDAN on the 13th, the e-gold price was trading at 151,400 won per gram at 2:30 PM. This is about 1.5% higher than the Korea Exchange (KRX) gold price of 149,080 won per gram as of the closing price on the 11th.
BDAN's e-gold price is formed through 'competitive trading'. Competitive trading occurs when there are multiple buyers or sellers, or both, with prices determined through competition between traders. In other words, the factor behind BDAN's e-gold price being higher than the domestic market price is interpreted as high demand relative to supply.
The high demand for gold is evidenced by gold prices repeatedly reaching all-time highs since the launch of Trump's second administration. On the 11th, international spot gold prices again set a new record, reaching around $3,200 per ounce (approximately 4.55 million won). This is due to the expanded demand for safe-haven assets as economic uncertainty continues due to Donald Trump's tariff policy.
The demand for digital gold-based assets is also increasing with gold price rises. According to cryptocurrency information company CoinGecko, the global market size of gold-linked tokens is about $2 billion (approximately 2.85 trillion won). The market capitalization of gold tokens has increased by 21% since President Trump took office. During the same period, BDAN's e-gold price also rose by 18%. In contrast, the cryptocurrency market size decreased by 26%, and Bitcoin, which accounts for about 60% of cryptocurrency market capitalization, also plummeted by nearly 20%.
The trading volume of tokenized gold is also noticeably increasing. Last week's trading volume exceeded $1 billion (approximately 1.426 trillion won). This is the highest level since the '2023 Banking Crisis', which began with the bankruptcy declaration of Silvergate, a cryptocurrency bank, followed by bank runs and stock market crashes in the US and Europe.
Representative gold-based tokens include Pax Gold and Tether Gold. Pax Gold is an Ethereum-based token directly linked 1:1 with physical gold, characterized by the ability to invest in small amounts of gold. Tether Gold supports fractional trading based on physical gold stored in Swiss vaults.
BDAN's e-gold is also a digital asset with the same value as physical gold. It can be traded in small units of 0.01g (currently 1,514 won). In particular, e-gold is safely stored in the secure vault of Korea Gold Exchange, the country's top gold distribution company, and can immediately respond to withdrawal requests from BDAN users.
Experts predict that digital assets linked to physical assets like gold will increasingly become core investment tools. The global digital asset platform CEX.IO stated in a report that "tokenized gold has become a key diversification strategy for cryptocurrency investors alongside Bitcoin" and "gold tokens provide a safe and stable investment approach in the cryptocurrency ecosystem".
