Whales Keep Buying XAUt — Fasanara Withdraws $13.49M XAUt from Binance
Large investors continue accumulating Tether’s gold token XAUt. On Feb 3, on-chain tracker Lookonchain reported that Fasanara Capital withdrew 2,797 XAUt from Binance, worth about $13.49 million. Another wallet (0xcd3a) bought 647 XAUt three hours earlier, spending $3.1 million in USDC at an implied price of $4,790 per XAUt. Recent whale activity shows sustained demand for XAUt across multiple exchanges and wallets, with several large purchases and withdrawals reported over the past days. This uptick underlines growing on-chain flows into tokenized gold and may reflect institutional accumulation or hedging demand.
Bullish
Significant on-chain purchases and exchange withdrawals of XAUt signal increasing demand and accumulation by large holders. Fasanara Capital’s $13.49M withdrawal from Binance is notable because withdrawals from exchanges often indicate long-term holding or movement into custody rather than immediate selling, which reduces available exchange liquidity and can support price. The 0xcd3a buy at ~$4,790 per XAUt and other recent large buys suggest renewed interest in tokenized gold as an asset or hedge. Historically, concentrated whale accumulation and decreased exchange balances precede short- to medium-term price support for niche tokens. For traders: expect potential tightening of XAUt liquidity and upward pressure on secondary-market prices if withdrawals continue. Short-term volatility may increase near large on-chain moves; long-term impact depends on whether institutions continue accumulation or later monetize holdings. Monitor exchange balances, large wallet flows, and US dollar/gold macro signals for confirmation.