XAUt (Tether Gold) rose 1.84% in the last 24 hours.

Gate News Bot news, on October 15, according to CoinMarketCap data, as of the time of writing, XAUt (Tether Gold) is currently priced at 4214.70 USD, with a 1.84% rise in the last 24 hours, peaking at 4216.03 USD and dropping to a low of 3954.22 USD. The 24-hour volume reached 407 million USD. The current market capitalization is approximately 1.039 billion USD, with a rise of 18.7 million USD compared to yesterday.

Tether Gold (XAUt) is a digital token backed by physical gold. By placing gold on the blockchain, XAUt unlocks various features that are typically only available to crypto assets. XAUt tokens can be easily transported, subdivided, traded around the clock, and can be redeemed for physical gold at any time. For institutional investors, XAUt provides ownership of physical gold while possessing all the advantages of crypto assets. It acts as a neutral currency asset, directly exposing one to the price of physical gold, with no custody fees.

XAUt recent important news:

1️⃣ Institutional investors are buying XAUt in large quantities.

Nasdaq-listed company Prestige Wealth (soon to be renamed Aurelion) completed approximately $150 million in financing and purchased Tether Gold (XAUt) for $134 million, with an average price of $4,021.81 per coin. This large purchase reflects institutional investors' confidence in XAUt and may have a positive impact on the price and market demand for XAUt.

2️⃣ XAUt issuance has significantly risen

Tether has issued over 600 million USD of gold-backed stablecoin XAUt since May. The increase in issuance indicates that market demand for XAUt is rising, which could be an important factor driving the price of XAUt up.

3️⃣ Tokenized gold performs steadily amid market turbulence.

In the recent market fluctuations, the tokenized gold sector has remained stable, with a market capitalization reaching a new high of approximately $3.09 billion. Among them, the market capitalization of XAUt hit $1.508 billion. This stability highlights the appeal of XAUt as a safe-haven asset, especially in uncertain market conditions.

From a technical perspective, the price of XAUt has broken through the 4000 USD mark, reflecting strong pump momentum. On the fundamental side, the participation of institutional investors and the increase in issuance provide solid support for XAUt. However, investors still need to closely monitor the global economic situation and changes in the gold market, as these factors may affect the future performance of XAUt.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.