Major market players are once again actively accumulating tokenized gold, recording a multiple-fold increase in the outflow of Tether Gold (XAUT) from centralized exchanges. On-chain analytics data shows a clear signal: institutional investors are using the current correction in spot gold prices to build long-term positions.
Record Outflow from Exchanges: 16 Times Higher Than Average
Over the past 24 hours, the net outflow of XAUT from exchanges amounted to $17.4 million. This is approximately 16 times higher than the daily average. The weekly dynamics are even more impressive: over seven days, more than $34.1 million in XAUT was withdrawn from platforms — four times the average weekly value.
The key event was the withdrawal of funds by the management company Abraxas Capital. According to blockchain explorers, the firm simultaneously withdrew approximately 3,931 XAUT (about $15.96 million) from four major exchanges: Bitfinex (760 XAUT), OKX (940 XAUT), Bybit (230 XAUT), and Binance (2,001 XAUT).
At the same time, an anonymous whale (wallet 0xD20E) became active again, resuming accumulation after a three-year hiatus. Over the past three days, it withdrew 953 XAUT worth about $3.93 million from Binance.
Mixed Picture: Sellers Also Present
However, the overall picture is not so clear-cut. Despite the strong inflow into cold wallets, two of the largest tracked XAUT holders (wallets 0x77134c and 0x28c6c0) have reduced their balances by more than 5,000 tokens each over the last 30 days. This indicates asset redistribution: some whales are accumulating, while others are taking profits or rebalancing portfolios.
Interest in tokenized gold is not limited to XAUT alone. A similar dynamic is observed for the Paxos Gold (PAXG) token, confirming the growing demand for digital equivalents of the precious metal.
Analysis and Forecast
The current situation is a classic example of a "buy the dip" strategy executed by large capital. The sharp increase in XAUT outflows from exchanges suggests that institutions view the recent gold pullback as an attractive entry point. However, the presence of large sellers creates some uncertainty. Further dynamics will depend on macroeconomic signals, primarily decisions by the U.S. Federal Reserve and the geopolitical situation.
My expert opinion: This surge in outflows is not a spontaneous impulse but part of a risk-hedging strategy amid growing volatility in traditional markets. Tokenized gold is becoming an increasingly sought-after tool for institutional investors seeking to diversify portfolios without physical metal storage. I expect the trend of accumulating XAUT and PAXG to continue, especially if macroeconomic instability intensifies.