Whales withdraw millions in Tether Gold as spot price tops Goldman Sachs target

Crypto whales have been aggressively accumulating tokenized gold, withdrawing millions in Tether Gold (XAUT) and Paxos Gold (PAXG) as spot gold traded at $5,585 — a level that, BeInCrypto says, has already surpassed Goldman Sachs’ $5,400 2026 target. Blockchain analytics firm Lookonchain reported several large movements in the final week of January: on Jan.

27 wallet 0xbe4C withdrew 1,959 XAUT ($9.97 million) from Bybit and Gate, wallet 0x0F67 pulled 559 XAUT ($2.83 million) from MEXC, and wallet 0x1b7D withdrew 194.4 XAUT ($993,000) plus 106.2 PAXG ($538,000). On Jan. 28 wallet 0x6Afa bought 1,137 PAXG for $5.95 million and new wallet 0x0E4F withdrew 800 XAUT ($4.22 million); earlier, on Jan.

5 wallet 0x8c08 spent $8.49 million to buy 1,948 XAUT. BeInCrypto also noted a Bybit trader who deposited 7 million USDT and withdrew 843 XAUT ($4.17 million). Broader on-chain metrics back the accumulation thesis. Data from Arkham Intelligence reported by BeInCrypto shows exchange flows for Tether Gold were net negative over the past seven days, which the outlet says is historically associated with long-term holding rather than short-term trading.

Market data further highlights momentum: CoinGecko shows Tether Gold’s market capitalization climbed to a new all-time high of $2.9 billion, a rise BeInCrypto attributes to both higher gold prices and growing demand for tokenized exposure to physical bullion.

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