TLDR
- Ethereum whales increased their XAUT holdings as wallet numbers rose to 35,609 by March 11.
- Tether expanded XAUT supply to 712,247 tokens, pushing market capitalization near $3.57B.
- Gold prices gained over 78% in the past year, while BTC declined by 16.78%.
- Abraxas Capital accumulated about 2.7K XAUT tokens valued at roughly $265M.
- XAUT recorded nearly double the trading volume of Paxos Gold across major exchanges.
Ethereum whales accelerated purchases of Tether Gold (XAUT) as gold prices held above $5,179. Wallet data showed steady growth in holders during early March. At the same time, new token issuance pushed supply and market capitalization higher.
Ethereum Whales Increase XAUT Holdings as Wallet Count Rises
Ethereum whales expanded their XAUT reserves as on-chain data recorded steady accumulation. Wallets holding XAUT rose to 35,609 on March 11, up from 33,390 on March 1. The increase reflected growing demand for tokenized gold exposure on Ethereum.
Large holders concentrated the supply as top wallets added more tokens in recent days. The second-largest wallet controlled 8.02% of the total supply after recent purchases. Blockchain trackers linked that wallet to addresses associated with Abraxas Capital.
Abraxas Capital held about 2.7K XAUT tokens valued at nearly $265M. The firm moved most tokens to a final destination wallet and limited outflows. Meanwhile, Antalpha reduced part of its holdings after weeks of accumulation.
Antalpha retained most of its reserves despite recent sales. RhinoFi recorded the largest XAUT outflow among tracked entities. However, on-chain records showed limited activity from the DeFi protocol.
XAUT Supply Expands as Gold Outperforms BTC
Tether minted new XAUT tokens in early 2026, lifting total supply to 712,247. Market capitalization approached $3.57B, near record levels. The growth followed sustained demand for tokenized gold exposure.
Gold prices climbed over 78% in the past year, while BTC declined 16.78%. Traders shifted capital toward gold as volatility increased in crypto markets. XAUT offered spot exposure to physical gold through blockchain infrastructure.
Tether reported $2.31M in net earnings from XAUT during the last quarter of 2025. The company controls the physical gold backing the token supply. It also remains one of the largest XAUT holders.
XAUT trading volumes reached roughly double those of Paxos Gold (PAXG). Bitget processed most XAUT trades, while some whales used Bitfinex. The token maintained liquidity despite the absence of a Binance listing.
Only one company, US-based Aurelion, currently holds XAUT as a treasury asset. DeFi protocols also accept XAUT as collateral in select markets. Data showed continued holder growth as of March 11, reflecting ongoing accumulation by large Ethereum wallets.
