Crypto Whale Converts $8.7 Million in XAUT to Wrapped Bitcoin

A large crypto investor swapped 1,637 XAUt for 125.9 WBTC, making a $600,000 profit in one month by capitalizing on gold-to-Bitcoin rotation.

BTC

WBTC

XAUT

43d ago

Summary

A crypto whale sold 1,637 XAUt tokens worth $8.7 million, making a $600,000 profit from gold after previously purchasing the tokens for $8.1 million. The investor bought 125.9 WBTC after selling at an average price of $5,315, with Bitcoin trading at $69,091.

Terms & Concepts

XAUT (Tether Gold): A token issued by Tether that represents ownership of one troy ounce of physical gold stored in a Swiss vault.
WBTC (Wrapped Bitcoin): A tokenized version of Bitcoin running on the Ethereum blockchain, backed 1:1 by BTC to enable DeFi (decentralized finance) use.
Whale: A term used to describe an individual or entity holding large amounts of cryptocurrency capable of influencing market movements.