XAUT surges into top 5 Binance perp pairs with $6.4B volume
Tether’s tokenized gold asset XAUT has quickly become one of the most traded instruments on Binance within just a few weeks. Futures trading volume reached $6.40 billion in a single day on March 23.
This surge pushed XAUT from 453rd place in December 2025 to fifth among perpetual trading pairs. For comparison, daily volume barely exceeded $1.5 million in December. By January, volumes had already climbed to tens of millions. By the end of that month, they approached $300 million per day. In February, the market saw its first days with turnover exceeding $1 billion. Overall, the growth has been nearly exponential over a single quarter.
Volume growth is not directly tied to price
Notably, the surge in activity did not coincide with rising gold prices. In January, gold peaked around $5,602 per ounce, drawing attention to XAUT. However, prices later dropped below $5,000 amid geopolitical tensions. Despite this, XAUT trading volumes continued to grow.
This suggests a shift in trader behavior. Market participants are increasingly using the token for speculation and hedging. Analysts note that demand is moving beyond simple price tracking. The market is beginning to treat XAUT as a полноценный derivative-like asset, strengthening its role within the crypto ecosystem.
Liquidity is concentrated entirely in derivatives
On Binance, XAUT is available only through perpetual futures. There is no spot trading, meaning all volume is purely derivative-based. The $6.40 billion turnover reflects contract trading rather than direct asset purchases.
At the same time, the token’s market capitalization is დაახლოებით $2.54 billion, with a fully diluted valuation of $3.21 billion. Each token is backed by one troy ounce of physical gold. The gold is stored in Switzerland and complies with LBMA standards. XAUT is issued on both Ethereum and Tron networks. This structure combines traditional assets with crypto infrastructure.
Binance doubles down on real-world assets
The rise of XAUT coincides with Binance expanding its lineup of real-world asset products. The platform plans to launch new derivatives tied to stocks such as META, NVDA, and GOOGL with leverage up to 10x. This signals a shift toward a hybrid model between traditional finance and crypto.
Tokenized assets are becoming a new source of liquidity. Amid crypto market volatility, investors are seeking alternative instruments. XAUT has emerged as one of the first successful examples of this integration. However, the sustainability of such volumes remains uncertain. If the trend continues, derivatives on real-world assets could become a new growth engine for the industry.
Recently we wrote that Tether, the issuer of the XAUt token, whose price is pegged to physical gold, has reported its asset backing for the first quarter of 2025.
Latest Binance News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
