Yeliz Akmaca 
Crypto whales are significantly increasing their holdings in Tether Gold (XAUT) and Paxos Gold (PAXG), highlighting the growing appetite for digital gold. Spot gold prices have surged past major forecasts, further fueling tokenized gold demand.
Whales Securing Digital Gold
Market activity actually shows that whales are taking long-term positions rather than short-term trades. For instance, during the last week of January, large wallets withdrew multi-million-dollar amounts of XAUT and PAXG from Bybit and MEXC. On January 27, wallet 0xbe4C pulled nearly $10 million in XAUT; the same day, 0x0F67 withdrew about $2.8 million in XAUT.
Interestingly, wallet 0x1b7D simultaneously withdrew around $1 million worth of both XAUT and PAXG from MEXC. Of course, these aren’t random moves; they appear part of a larger accumulation strategy. On January 28, 0x6Afa spent almost $6 million to acquire PAXG over two days, while newly created wallet 0x0E4F pulled $4 million in XAUT from Bybit.
Negative Exchange Flows Signal Long-Term Holding
Data from Arkham Intelligence shows net negative exchange flows for Tether Gold over the past seven days. This actually indicates consistent withdrawals from centralized exchanges, suggesting long-term accumulation rather than short-term speculation. In other words, investors are positioning for continued upside.
XAUT’s market capitalization also reflects strong momentum. According to CoinGecko, Tether Gold’s total market cap reached around $2.9 billion, hitting an all-time high. This growth closely mirrors rising gold prices and increased demand for tokenized exposure.
Tokenized Gold Bridges Crypto and Safe-Haven Demand
The market trend shows that digital gold is bridging traditional safe-haven demand and crypto-native capital. Amid geopolitical tensions and monetary policy uncertainty, whales increasingly favor tokenized gold as a liquid, blockchain-based safe-haven.
With falling exchange balances and rising market capitalization, XAUT is emerging as a key long-term store of value. Truthfully, the accumulation by crypto whales signals a growing convergence between traditional bullion demand and the new digital frontier.
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