Whale bought 566 XAUT in 2 days, close to $2.8 million, holding 11.36 million USDT with the intention to further increase holdings

A whale has been continuously buying 566.8 Tether Gold (XAUT) from centralized exchanges (CEX) over the past 2 days, spending nearly $2.8 million. Even more noteworthy is that this whale account also holds 11.36 million USDT, which may indicate further investment plans. This large purchase reflects the ongoing market demand for gold-backed stablecoins.

Key Information on the Whale’s Purchase

Purchase scale and timeline

The key data for this transaction are as follows:

According to the latest news, the average purchase price for this whale is around $4,900 per XAUT, indicating a sustained accumulation at relatively high levels. The USDT holding of 11.36 million suggests ample funds reserves, possibly still observing for further buying opportunities.

XAUT Project Characteristics

To understand the significance of this purchase, it’s essential to know what XAUT is. Tether Gold is an ERC-20 token launched by Tether in February 2020, with each XAUT representing ownership of one ounce of London spot gold, fully backed by physical gold stored in Tether’s vaults in London.

This feature makes XAUT fundamentally different from other stablecoins:

• USDT is fiat-backed stablecoin, value pegged to USD
• XAUT is commodity-backed stablecoin, value pegged to gold
• Holding XAUT is akin to holding physical gold on the blockchain, redeemable at any time

Market Performance and Purchase Background

Recent Price Trends

XAUT has performed well recently, with the latest data showing:

• 24-hour increase: 2.31%
• 7-day increase: 7.17%
• 30-day increase: 9.78%

This growth rate is relatively strong among stablecoins. XAUT’s market cap is currently $217 million, ranking 37th among cryptocurrencies, with a circulating supply of 439,648 XAUT.

Logic Behind the Whale’s Buying

The whale’s continued purchases amid rising XAUT prices may be driven by:

• Confidence in gold as a safe-haven asset, especially amid geopolitical or economic uncertainties
• XAUT’s on-chain representation of physical gold, offering unique value preservation
• Easier trading and liquidity management compared to directly buying physical gold
• The whale possibly accumulating positions in preparation for larger future moves

Potential Future Developments

Further Actions by the Whale

The whale holding 11.36 million USDT is described in news reports as “possibly increasing holdings further.” This implies:

• The whale may continue buying XAUT from CEX until USDT reserves are exhausted or target positions are reached
• Continued large purchases could support XAUT’s price
• Such institutional-level buying often indicates deep market demand

Market Impact

Persistent buying by the whale could lead to:

• Increased attention to XAUT in the market
• Attraction of other investors to gold-backed stablecoins
• If buying continues, a potential short-term price increase for XAUT

Summary

This whale purchase event reflects genuine market demand for gold-backed stablecoins. As a representation of physical gold on the blockchain, XAUT’s appeal as a safe-haven and store of value has attracted institutional interest amid rising economic uncertainties. The 11.36 million USDT reserves held by the whale suggest this may just be the beginning, with further accumulation possible. For participants interested in stablecoins and gold-related investments, this is a signal worth monitoring continuously.