Tether Gold (XAUt) moves as Trump shakes the dollar. While traditional global markets are still uncertain, the crypto industry is having its moment. Amid the unraveling tariff war, gold-backed tokens are glittering and investors are taking notice. While the price of Bitcoin increased by just 3% over the same time period, Tether's XAUt has gained more than 7% in the past seven days. The price of gold broke through the $3,500 mark for the first time ever, and it's possible that US President Donald Trump played a major role in this rally. Markets froze as the dollar fell to a three-year low and investors appeared to be fleeing toward their favorite crisis metal after launching a new round of criticism at Fed Chair Jerome Powell. Bitcoin is left in the dust by XAUt. Gold-backed cryptocurrencies are moving at a faster rate as the tariff wars move into the next phase. Data shows that the tokenized gold coins market cap jumped by 2.6% in the last 24 hours to stand at $2.18 billion, with a trading volume of $345 million.
The Tether issued XAUt price increased by almost 2% to $3,461, while PAX Gold (PAXG), which came in second place, traded at $3,470. Unlike meme coins or hype-fueled altcoins, these tokens are tethered to something tangible, i.e., real gold in vaults. Digital gold is proving to be a growing safe haven thanks to platforms like Tether Gold and Pax Gold. When compared to XAUt, the price of Bitcoin has increased by approximately 5% over the past 30 days, while the price of Tether Gold has increased by almost 14%. At the time of writing, the average price of Bitcoin is $89,172. The global gold throne is in Tether's XAUt sights. Paolo Ardoino, CEO at Tether, in an X post, stated that XAUt will become the biggest tokenized gold market in the world. He added that the gold price is surging, and as a consequence of the world trying to hedge against chaos. In response, central banks are loading up hundreds of billions in gold as part of their reserves, he added.
He suggested that the XAUt gives millions of USDT users access to the digital gold opportunity. The most important stablecoin in the game is USDT from Tether. It has 144.72 billion units in circulation. Circle is second on the list, with USDC boasting a circulation of 60.93 billion.
Spot gold spiked to $3,500.05 before pulling back slightly, while US gold futures gained marginally to stand at $3,446. The move defied the usual playbook as equities dropped 2.4% but gold kept climbing.
A new wave of buying of safe havens is being fueled, according to analysts, by Trump's pressure on the Fed to cut rates and worries about the independence of the central bank. As the next psychological milestone, traders are already targeting $3,600. Green indexes were printed all over the global market for digital assets. Its market cap surged by 2% in the last 24 hours to stand at $2.78 trillion.
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