Whale buys $13.72 million worth of XAUT, gold asset tokens迎来 liquidity turning point

A single entity recently purchased a large amount of 3,102 XAUT (Tether Gold) tokens, totaling approximately $13.72 million. This purchase occurred within the time window when Korea’s two major exchanges, Upbit and Bithumb, just launched XAUT trading pairs, reflecting institutional confidence in the liquidity improvement of gold-backed assets.

Signals Behind Whale Accumulation

Market Significance of the Purchase Scale

According to the latest data, XAUT currently has a circulating supply of 409,218 tokens and a total supply of 520,089 tokens. The 3,102 tokens purchased represent about 0.76% of the circulating supply, which is a significant size for a single on-chain transaction. At the current market price of $4,397.39, this purchase price is around $4,400, indicating that buyers are continuously accumulating at relatively high levels.

This pattern of dispersed buying across multiple wallets typically reflects institutions or large investors aiming to avoid market impact costs while expressing strong confidence in the asset.

Asset Attributes of XAUT

Tether Gold is a gold-backed token issued by Tether, with each XAUT representing 1 ounce of physical gold certified by the London Bullion Market Association (LBMA). This 1:1 gold collateral mechanism gives XAUT a unique value support—it is not purely a speculative crypto asset but a stable asset backed by physical gold.

Currently, XAUT’s market capitalization is $180 million, accounting for about 0.06% of the market, positioning it as a niche but stable asset.

The Arrival of a Liquidity Turning Point

Breakthrough in the Korean Market

On January 1, 2026, Korea’s two largest crypto exchanges, Upbit and Bithumb, simultaneously launched XAUT trading pairs, marking an important breakthrough for XAUT in the Asian market. Both exchanges support multiple trading pairs such as KRW, BTC, USDT, etc., which means:

• Korean investors now have more convenient channels to trade XAUT
• XAUT’s liquidity and trading depth will significantly improve
• The diversification of trading pairs in the regional market reduces entry and exit costs

This perfectly explains why whales are making large acquisitions at this time—liquidity environments tend to improve most rapidly around exchange launches.

Changes in Market Liquidity

According to data, XAUT’s 24-hour trading volume is $138 million, which, compared to its $180 million market cap, accounts for nearly 77%, indicating a relatively active market. The addition of Korea’s two major exchanges is expected to further boost this figure.

Follow-up Observations

Whale accumulation before liquidity improves often hints at expectations for future performance. As a gold-backed asset, XAUT’s scarcity, combined with the value support of physical gold, gives it different risk attributes compared to pure crypto assets.

Whether the Korean market’s opening can attract more institutional participation, and whether XAUT can gain higher trading activity in Asia, will be key points to watch. On-chain data already partially reflects the impact of this whale purchase.

Summary

This $13.72 million XAUT purchase demonstrates institutional confidence in gold-backed tokens amid liquidity improvements. The simultaneous launch of trading pairs on Korea’s two major exchanges opens new market opportunities for XAUT. Although currently a niche asset, its unique gold collateral and expanding trading channels are gradually making it an important bridge between traditional assets and the crypto market. The key moving forward is whether these new trading pairs can attract enough trading volume to further validate this institutional move.