A gold-backed crypto token jumped from 453rd place to fifth among the many most actively traded perpetual pairs on Binance — all inside a matter of weeks.
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XAUT: From Obscurity To The High 5
Tether’s tokenized gold token, XAUT, recorded a each day perpetual futures buying and selling quantity of $6.40 billion on March 23, in line with knowledge highlighted by CryptoQuant analyst JA Maartunn. That determine dwarfs the place it stood in December 2025, when each day quantity barely crossed $1.50 million.
The climb was quick and unrelenting. By January 2026, each day quantity had moved into the tens of hundreds of thousands. By month’s finish, it was brushing $300 million.
XAUT simply hit a brand new all-time excessive in perp quantity on Binance
“XAUT recorded $6.40B in each day perpetual buying and selling quantity, which is the very best since its itemizing. This brings XAUT-perpetual futures because the #5 most traded perp pair on Binance.” – By @JA_Maartun pic.twitter.com/YCRossyaCF
— CryptoQuant.com (@cryptoquant_com) March 25, 2026
February introduced the primary billion-dollar days, with quantity peaking at $4.17 billion earlier than pulling again sharply. March erased that earlier excessive totally.
Maartunn stated the surge goes past peculiar price-driven buying and selling. Merchants, he argued, seem like broadening their focus past conventional crypto property. XAUT’s rise, he stated, displays that shift.
Quantity Climbs As Gold Costs Fall
What makes the numbers tougher to dismiss is the timing. Gold had a wild trip over the identical stretch. Bodily gold climbed from roughly $4,200 per ounce to a report $5,602 in late January 2026.
That rally seemingly drew early consideration to the token. However gold later fell again beneath $5,000, weighed down partly by the continued Iran battle. XAUT’s buying and selling quantity saved climbing anyway.
Binance doesn’t checklist XAUT for spot buying and selling. Entry to the token itself is obtainable by way of the Binance Web3 Pockets or decentralized exchanges. The change limits its direct providing to perpetual futures, that means all of that $6.40 billion in each day quantity is derivatives exercise — not direct purchases of the token.
XAUT presently carries a market cap of $2.54 billion and a totally diluted valuation of $3.21 billion. Every token is backed one-to-one by a troy ounce of bodily gold assembly LBMA Good Supply requirements. The gold is held in vaults in Switzerland and issued by Tether on the Ethereum and Tron networks.
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Binance Expands Its Actual-World Asset Choices
The record volume arrives as Binance strikes so as to add extra real-world asset merchandise. Studies point out the change is about to launch perpetual pairs for METAUSDT, NVDAUSDT, and GOOGLUSDT on March 26, every providing as much as 10x leverage. The growth alerts rising platform curiosity in bridging conventional monetary property with crypto derivatives markets.
Whether or not XAUT’s quantity holds at these ranges stays to be seen. The token went from a footnote in Binance’s rankings to certainly one of its most traded merchandise in a single quarter — a transfer few would have predicted initially of the yr.
Featured picture from Shutterstock, chart from TradingView
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