New Wallet Holds 800 Gold Tokens XAUT Worth Up to $4.22 Million

New Wallet Holds 800 Gold Tokens XAUT Worth Up to $4.22 Million

On January 28, according to on-chain monitoring by Onchain Lens, a newly created wallet withdrew 800 XAUT gold tokens from Bybit exchange, totaling approximately $4.22 million.

What is XAUT?

XAUT, also known as Tether Gold, is a gold-backed digital currency launched by Tether. Each XAUT token is directly tied to one troy ounce of physical gold, allowing users to hold gold assets on the blockchain.

Market Impact of Gold-Backed Tokens

As the crypto market evolves, asset-backed tokens are gaining traction among investors. XAUT not only provides a novel way to invest in gold but also combines the transparency and efficiency of blockchain technology, making it a popular choice for both institutional and individual investors.