Whale Secure Over $30 Million in Tether Gold As Spot Price Blasts Past Goldman Sachs’ Target
Crypto whales are aggressively accumulating Tether Gold (XAUT) as the spot price of gold surpasses major bank forecasts, signaling strong demand for tokenized bullion.Summary
Crypto whales have been aggressively accumulating tokenized gold, specifically Tether Gold (XAUT) and Paxos Gold (PAXG), as the spot price of physical gold rapidly exceeded Goldman Sachs' $5,400 target and heads toward higher forecasts from Bank of America and Jefferies.
On-chain data from late January shows multiple large withdrawals from exchanges: one whale withdrew nearly $10 million in XAUT, while others acquired millions more in XAUT and PAXG. This accumulation is supported by broader market trends, including sustained net negative exchange flows for XAUT over seven days, which typically indicates long-term holding rather than short-term trading.
Furthermore, Tether Gold's market capitalization reached an all-time high of $2.9 billion, reflecting both rising gold prices and increased demand for this crypto-native proxy for physical bullion. This trend coincides with Tether significantly expanding its physical gold reserves, reportedly transporting over a ton weekly to its private vault, positioning the issuer as a major player in the global bullion market.
(Source：BeInCrypto)