Cryptocurrency whales have become active again in the tokenized gold segment, taking advantage of the decline in spot prices. Over the past 24 hours, the net outflow of Tether Gold (XAUT) from centralized exchanges reached $17.4 million — approximately 16 times the daily average.
On-chain analytics data records a massive movement of funds. The management company Abraxas Capital has withdrawn approximately 3,931 XAUT worth about $15.96 million from four major trading platforms. The transactions were distributed as follows: 760.244 XAUT ($3.09 million) from Bitfinex, 940.207 XAUT ($3.82 million) from OKX, 230 XAUT ($934,000) from Bybit, and 2,001 XAUT ($8.12 million) from Binance.
Anonymous wallets return to the game
Notably, one long-dormant wallet (0xD20E) has resumed accumulating XAUT after a three-year hiatus. Over the past three days, 953 tokens worth approximately $3.93 million have been withdrawn from Binance. This behavior is typical of large players who view current price levels as an attractive entry point.
The seven-day dynamics only confirm the trend: the net outflow of XAUT has exceeded $34.1 million, four times higher than the average weekly value. Traditionally, the withdrawal of tokens from exchanges is interpreted as a signal for long-term storage — investors move assets to cold wallets, not planning an imminent sale.
Not so clear-cut: seller pressure persists
However, the overall picture remains ambiguous. Against the backdrop of massive purchases, there is also a significant redistribution of assets. One large participant withdrew approximately 2,900 XAUT ($11.8 million) in a day, while another reduced their balance by 757 tokens over the same period. Two of the largest tracked wallets (0x77134c and 0x28c6c0) have decreased their positions by more than 5,000 XAUT each over the past 30 days, partially offsetting the bullish momentum.
Interest in tokenized gold is not limited to XAUT alone. We have previously recorded similar net outflows for Paxos Gold (PAXG), indicating a systemic increase in demand for this asset class among institutional and large private investors.
Analytical commentary from Cryptalist: The current dynamics of XAUT are a classic example of divergence between short-term seller pressure and long-term accumulation. While some whales are taking profits or rebalancing portfolios, others view the gold correction as an opportunity. The key trigger for further movement will be signals from the US Federal Reserve and the geopolitical backdrop — these factors will determine whether the current outflow evolves into a sustainable accumulation trend.