Tether Gold (XAUT), the digital asset backed by physical gold, has achieved a significant milestone by entering the top 10 list of perpetual trading pairs on Binance. According to data from market analytics firm CryptoQuant, the XAUT/USDT perpetual contract is now ranked 8th among all such pairs on the world's largest cryptocurrency exchange.
This development marks a pivotal shift for gold-backed cryptocurrencies, moving them from a niche hedging instrument to a mainstream trading asset competing directly with major crypto pairs like BTC, ETH, and SOL. The analyst from CryptoQuant noted, "Gold-backed crypto is no longer a niche hedge. It is now competing directly with major crypto perps in terms of liquidity and trader attention on Binance."
The ascent is backed by a dramatic surge in trading volume. Data reveals that XAUT's daily trading volume skyrocketed from $381 million on January 26 to a record $4.18 billion on January 29. Throughout early February, it maintained an average daily volume well above $2 billion, indicating sustained and substantial capital inflow.
Analysts attribute this growing interest to market volatility, which is driving investors toward assets that combine the stability of a traditional safe-haven like gold with the flexibility and liquidity of the crypto ecosystem. The availability of leveraged perpetual contracts for XAUT on a major platform like Binance provides traders with advanced tools to gain exposure to gold's price movements digitally.
At the time of the reports, XAUT's price was consolidating around $5,161, following a rally from approximately $4,500. The high trading volume and top-10 ranking suggest that a significant number of traders are holding long positions, anticipating further price appreciation.
