Crypto Whales Buy $30M of Tokenized Gold Amid New All-Time Highs
Gold has reached new all-time highs multiple times from October 13 to October 15, with CFDs on gold trading at $4,196 per ounce, peaking at $4,218. This rally in gold has coincided with significant investments in XAUt, Tether’s tokenized gold.
- Two crypto whales purchased over $30 million in XAUt within a week.
- Whale 0xdfcA acquired 2,879 XAUt, valued at $12.1 million.
- casualpig.eth bought 4,463 XAUt for $18.7 million.
XAUt is the second-largest gold-pegged stablecoin by market cap, valued at $1 billion, following PAX Gold with a market cap of $1.30 billion. These tokens offer an alternative way to invest in gold without handling physical bars or traditional financial contracts.
Gold's market capitalization stands at $29.27 trillion, making it the most valuable asset, far exceeding Nvidia and silver. The recent substantial liquidation event in cryptocurrencies, totaling over $19 billion, might have prompted investors to shift their focus towards gold and related assets.
