How Does XAUt's On-Chain Data Reveal Growing Interest in Digital Gold in 2025?
Active addresses increase by 150% in 2025
Tether Gold (XAUt) has experienced remarkable growth in user adoption during 2025, with on-chain metrics revealing a substantial 150% increase in active addresses compared to the previous year. This surge correlates directly with the token's impressive market performance, as evidenced by its price appreciation from $3,292.7 in August to a peak of $4,394.0 in mid-October 2025.
The dramatic increase in user participation reflects broader market trends in tokenized real-world assets (RWAs), particularly gold-backed tokens:
| Metric | January 2025 | November 2025 | Growth |
|---|---|---|---|
| Active XAUt Addresses | ~750,000 | ~1,875,000 | 150% |
| Market Cap | $850 million | $2.08 billion | 145% |
| Gold Price (per oz) | $2,708 | $3,985.7 | 47.18% |
This growth in active addresses indicates XAUt's expanding appeal among both retail and institutional investors seeking blockchain-based exposure to physical gold. The token's omnichain expansion via XAUt0 launched in June 2025 has enabled operations across multiple blockchains using LayerZero technology, further driving user adoption.
With gold's historic rally pushing XAUt's fully backed market value to $2.08 billion by November 2025, the significant increase in active addresses demonstrates how digital asset platforms are successfully bridging traditional commodities with blockchain technology, creating new avenues for investors to gain exposure to gold through decentralized networks.
Transaction volume surpasses $1.2 billion
Tether Gold (XAUt) reached a significant milestone in 2025, with transaction volume exceeding $1.2 billion. This achievement reflects growing investor confidence in tokenized gold as a reliable store of value during periods of economic uncertainty. By October 2025, XAUt's market capitalization had surpassed $1.5 billion, indicating substantial growth in adoption and trading activity.
Daily trading volume of tokenized gold hit unprecedented levels, with a record $1 billion in single-day transactions. Throughout this period, the cumulative tokenized gold trading volume exceeded $10 billion, surpassing the activity seen in the entire first quarter of 2025. This surge coincided with increased U.S.-China trade tensions, prompting investors to seek safe-haven assets.
The impressive performance of XAUt can be seen through key market metrics:
| Metric | Value | Date |
|---|---|---|
| Daily Trading Volume | $1B+ | October 2025 |
| Monthly Trading Volume | $3.25B | September 2025 |
| Market Capitalization | $1.5B | October 2025 |
| Price per Token | $3,985.7 | November 2025 |
| Historical High | $4,392.88 | October 17, 2025 |
Paolo Ardoino, Tether CEO, highlighted this achievement on social media, noting that XAUt's growth demonstrates increasing institutional interest in blockchain-based exposure to physical gold. The gold backing XAUt is held separately from Tether's general reserves, which include an additional $8.7 billion in gold bars supporting other stablecoins, according to their Q2 2025 attestation report.
Top 5 whale addresses hold 84.44% of total supply
Recent on-chain data analysis reveals a significant concentration of XAUt tokens, with the top 5 whale addresses controlling 84.44% of the entire supply. This extreme centralization has shown notable increases in recent weeks as several large investors have executed substantial purchases worth millions of dollars in Tether Gold.
On October 15, 2025, blockchain analytics identified two major whale transactions exceeding $30 million combined, coinciding with gold reaching new all-time high prices. One particular whale address purchased 4,463 XAUt tokens, while another address starting with 0xdfcA acquired 2,879 XAUt tokens valued at approximately $12.1 million.
The distribution pattern shows remarkable contrast between retail and institutional holdings:
| Holder Type | Percentage of Supply | Number of Tokens | Approximate Value ($M) |
|---|---|---|---|
| Top 5 Whales | 84.44% | 440,851.7 | 1,757.1 |
| Remaining Holders | 15.56% | 81,237.6 | 323.8 |
With the total XAUt supply currently at 522,089.3 tokens valued at over $2.08 billion, this concentration raises questions about market liquidity and potential price impacts should any of these major holders decide to sell their positions. Each XAUt token represents one troy ounce of London Good Delivery gold, making this accumulation equivalent to substantial physical gold reserves in tokenized form.
FAQ
What is the XAUt coin?
XAUt is a digital token by Tether, representing one troy ounce of physical gold. It offers 24/7 trading and fractional ownership on crypto platforms.
How safe is XAUt?
XAUt is highly secure, backed by strict smart contract audits, regulatory compliance, and physical gold verification. It offers robust security and transparency, making it a trustworthy gold-backed digital asset for investors.
Is XAUt the same as gold?
No, XAUt is not the same as physical gold. It's a digital token backed by and representing physical gold, offering a way to own gold digitally.
Is Tether gold a good investment?
Yes, Tether Gold can be a good investment. It's backed by physical gold, offering stability and potential for growth as gold prices rise. It combines the benefits of gold with the convenience of digital assets.
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