Tether's gold-backed token, XAUT, has seen significant growth in the past year, reflecting a broader trend of investors seeking stability in precious metals during turbulent economic times. The report highlights positive developments indicating that this trend is likely to continue as more users adopt gold-backed assets.
Market Capitalization Surge
The market capitalization of XAUT has nearly quadrupled, reaching an impressive $23 billion. This surge is largely driven by heightened demand for gold as a safe-haven asset amid ongoing economic uncertainties and inflation concerns.
Tether's Commitment to Transparency
Tether has emphasized its commitment to transparency, claiming that it holds more gold than the total value of its XAUT tokens. Currently, the company possesses 116 tonnes of gold, which is valued at approximately $17 billion, reinforcing investor confidence in the stability and backing of the token.
Recently, Tether's gold-backed token XAUT has gained attention, and now Upbit is reportedly considering adding it to their trading options. For more details, see more.
