Tether’s Gold Token Rises to the Top as Crypto Markets Show Little Movement

XAUT Leads Digital Asset Gains as Gold Remains Investor Safe Haven Despite Easing Trade Tensions

Gold-backed crypto assets continued their upward momentum on Thursday, outperforming the broader digital asset market as investors remained cautious despite signs of de-escalation in the U.S.-China trade conflict.

Tether’s XAUT rose 3.4% over the past 24 hours, placing it among the top 10 digital assets by performance, according to on-chain data. Paxos’ PAXG also saw significant inflows, reinforcing tokenized gold’s role as a preferred risk-off asset in volatile macro conditions.

The overall tokenized gold sector posted a 4.3% gain during the same period, in sharp contrast to the CoinDesk 20 index, which declined by 2%. Physical gold prices also remained elevated, trading at $3,218/oz in Hong Kong after briefly pulling back from a record high.

Market sentiment remains fragile, particularly in Asia, where equities were mixed: the Nikkei 225 dropped 3.5%, while Taiwan’s TAIEX gained 1.6%. Investors are weighing trade policy developments against concerns over erratic U.S. fiscal management.

Fueling those concerns is the ballooning U.S. budget deficit, which has climbed to an annualized $2.6 trillion—equivalent to roughly 9% of GDP, as noted by DoubleLine Capital’s Jeffrey Gundlach.

Meanwhile, state-run Chinese media reported upcoming economic stimulus measures totaling $136 billion, potentially adding further momentum to gold demand in both traditional and tokenized formats.

Elsewhere, Curve DAO’s CRV token jumped 18% on optimism over a potential regulatory shift in the U.S. that could favor decentralized finance projects.

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