Whale Moves $1.24M in Tether Gold to OKX for Potential Profit

Recent on-chain data reveals multiple large investors accumulating gold-backed tokens, signaling growing interest in asset-backed digital investments.

PAXG

XAUT

51d ago

Summary

On Jan. 27, Lookonchain reported that several whale addresses accumulated significant amounts of gold-backed tokens. Address 0xbe4C withdrew 1,959 Tether Gold (XAUT) worth $9.97 million, 0x0F67 took 559 XAUT worth $2.83 million, and 0x1b7D removed 194.4 XAUT valued at $0.993 million along with 106.2 PAX Gold (PAXG) worth $0.538 million. This follows an earlier Arkham report of a whale moving 244.84 XAUT worth $1.24 million to OKX for potential profit, indicating sustained interest from major investors in gold-pegged digital assets.

Terms & Concepts

Tether Gold (XAUT): A cryptocurrency token backed by physical gold, each representing one troy ounce of gold stored in a secure vault.
PAX Gold (PAXG): An Ethereum-based cryptocurrency token backed by one fine troy ounce of a London Good Delivery gold bar held in vaults.
Whale: A term used to describe individuals or entities that hold large amounts of cryptocurrency, capable of influencing market movements through significant transactions.