Gold price tops $5,000 as three whales buy XAUT and PAXG
After gold surpassed $5,000, three large crypto whales increased holdings in gold-backed tokens XAUT and PAXG, Onchain Lens reports. Wallet 0xf56 spent $8.09 million USDC to buy 1,636.775314 XAUT at an average price of $4,943. Wallet 0xa92 used the equivalent of $6.00 million in WBTC and stETH to acquire 564.27 PAXG and 631.56 XAUT at about $5,020. Wallet 0x09e spent $4.85 million USDT to buy 977 XAUT at roughly $4,961. The purchases signal institutional or large-holder interest in tokenized gold as spot gold rallies; this could increase demand and on-chain liquidity for XAUT and PAXG. Relevant keywords: gold price, tokenized gold, XAUT, PAXG, whales, on-chain buying.
Bullish
Large on-chain purchases of gold-backed tokens coinciding with spot gold breaking $5,000 point to increased demand from sizable holders. Such concentrated buying by whales typically supports higher short-term price momentum for the specific tokens (XAUT, PAXG) and can attract additional trader attention and liquidity. Historically, visible whale accumulation around commodity or stable-value tokens has led to elevated bid-side pressure and reduced short-term volatility for those tokens as liquidity concentrates. In the medium term, sustained interest could tighten spreads and lift prices for tokenized gold relative to spot; however, market-wide risk factors (dollar moves, macro data, interest rates) remain primary drivers for underlying gold and could offset token-level gains. For traders: expect short-term bullishness for XAUT/PAXG and potential increased volume on DEXs and centralized venues, but monitor macro catalysts that move spot gold and stablecoin/WBTC liquidity that funded these buys.