Tether Gold Outflows Hit 16x Their Daily Average as Whales Accumulate
The post Tether Gold Outflows Hit 16x Their Daily Average as Whales Accumulate appeared on BitcoinEthereumNews.com. Crypto whales are accumulating gold again just as spot prices slide. Asset manager Abraxas Capital pulled millions in Tether Gold (XAUT) off exchanges this week, and on-chain data suggests it is not acting alone. The whale activity comes as gold posts mixed results in July. Prices climbed early in the month, then slipped as US-Iran tensions escalated. Gold’s Volatility Pushes Traders On-Chain According to Onchain Lens, investment firm Abraxas Capital withdrew approximately 3,931 XAUT, worth around $15.96 million, from four major exchanges. The transfers included 760.244 XAUT ($3.09 million) from Bitfinex, 940.207 XAUT ($3.82 million) from OKX, 230 XAUT ($934,000) from Bybit, and 2,001 XAUT ($8.12 million) from Binance. Lookonchain also reported that a whale wallet identified as 0xD20E resumed accumulating XAUT after a three-year hiatus. Over the past three days, the wall