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Whales Accumulate Tokenized Gold: $10.58M in XAUT and $5.01M in PAXG Move

Whale activity involving Tether Gold (XAUT) and Paxos Gold (PAXG) reflects growing institutional adoption of gold-backed digital assets, with significant transactions on Bitfinex and Binance.

PAXG
XAUT

Summary

On February 12, Onchain Lens reported that whale wallets transferred 2,100 XAUT ($10.58 million) and 986 PAXG ($5.01 million). Wallet 0xcF7 received 2,100 XAUT from Bitfinex, while two linked wallets withdrew 986 PAXG from Binance. These large transactions indicate increasing institutional interest in tokenized gold.

Terms & Concepts
  • Tether Gold (XAUT): A gold-backed stablecoin issued by Tether, where each token represents ownership of one troy ounce of physical gold stored in Switzerland.
  • Paxos Gold (PAXG): A gold-backed stablecoin issued by Paxos, with each token backed by one troy ounce of gold stored in regulated vaults.
  • Binance: A leading global cryptocurrency exchange known for offering trading in a wide range of cryptocurrencies and digital assets.