Whale Sells XAUT and PAXG for $7.55 Million, Realizes $4.13 Million Profit
A major cryptocurrency whale sold XAUT and PAXG, making a significant profit, and retains a substantial amount of XAUT as part of an active trading strategy.
PAXG
XAUT
Fact Check
The claim is corroborated by detailed reports from BlockBeats (https://m.theblockbeats.info/flash/335072) which cite Onchain Lens. The specific transaction details, including the amounts of XAUT and PAXG sold, the total sale value ($7.55M), the realized profit ($4.13M), and the remaining holdings (961 XAUT), match the provided statement exactly.
Summary
On March 8, a whale sold 1,410.5 XAUT and 59.74 PAXG for $7.55 million, then transferred 500 PAXG (worth $2.59 million) to Binance, realizing a $4.13 million profit. Despite these sales, the whale retains 961 XAUT valued at approximately $4.94 million, demonstrating strategic portfolio management.
Terms & Concepts
- Tether Gold (XAUT): A stablecoin backed by physical gold, each token representing ownership of one troy ounce of gold held in Swiss vaults.
- PAX Gold (PAXG): A digital token backed by physical gold, allowing holders to own and trade fractional gold in cryptocurrency form.
- Whale: A term describing an investor or entity that holds and trades large amounts of cryptocurrency, often capable of influencing market movements.