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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
🆘 #Gate 2025 Semi-Year Community Gala# | Square Content Creator TOP 10
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XAUt market capitalization soars to 86 million USD, digital gold enters a new era.
The Rapid Rise of XAUt: A New Era of Digital Gold
A dazzling new star has emerged in the cryptocurrency market recently—XAUt. This gold-backed stablecoin issued by Tether has seen its market value soar to around $86 million in just a few months since its launch at the end of January this year. As an innovative product that combines gold with blockchain technology, XAUt is attracting the attention of more and more investors.
Each token of XAUt corresponds to one ounce of physical gold. Its rapid growth is mainly due to the safe-haven demand brought about by global economic turmoil. The economic crisis triggered by the COVID-19 pandemic and the aggressive monetary policies of central banks like the Federal Reserve have pushed investors to seek safe-haven assets like gold. XAUt provides investors with a convenient digital way to gain exposure to gold.
Compared to traditional gold investment tools, XAUt has several advantages: no custody fees, redeemable for physical gold, 24-hour trading, and high divisibility. These features make it attractive to both retail and professional investors.
Currently, XAUt is mainly traded on platforms like Delta Exchange, FTX, and Bitfinex, primarily through derivatives contracts. Several platforms plan to further enrich the trading varieties of XAUt, such as launching perpetual contracts and fixed-term contracts. In addition, the introduction of infrastructure upgrades like the Lightning Network is also in the planning stages for some platforms.
Although XAUt has performed well, it is generally believed in the industry that it is difficult to reach the market capitalization scale of USDt. As a highly volatile asset, XAUt is hard to replace USDt as the foundational medium for cryptocurrency trading. However, there is a viewpoint that in the future, the market capitalization of gold-backed stablecoins like XAUt is expected to reach several tens of billions of dollars.
It is worth noting that XAUt is not the only gold-backed stablecoin on the market. Competitors such as PAX Gold issued by Paxos even lead XAUt in certain metrics. Additionally, XAUt also faces challenges in areas such as gold reserve auditing and supply chain management.
Overall, the rapid rise of XAUt reflects the market's demand for digital gold products. However, whether it can truly become "digital gold" will require the test of time. In a turbulent economic environment, the development of XAUt undoubtedly deserves continued attention.