Recent blockchain data reveals a significant accumulation of gold-backed tokens. According to Onchain Lens monitoring, on February 12, a newly created wallet 0xcF7 received 2,100 XAUT tokens from Bitfinex, valued at approximately $10.58 million.
At the same time, two associated wallets 0x83F and 0xd95 withdrew a total of 986 PAXG tokens from Binance, worth around $5.01 million. This coordinated movement indicates institutional investors are strengthening their exposure to precious metal-linked digital assets.
Why Gold Tokens Are Gaining Traction
Gold-backed tokens like XAUT and PAXG offer several advantages:
- Enable instant settlement without traditional gold delivery processes
- Provide enhanced liquidity through blockchain-native transferability
- Facilitate decentralized custody and peer-to-peer trading
This on-chain activity reflects growing interest in hybrid assets combining traditional safe-haven properties with crypto-native features.