[Analysis] "Tether Gold trading volume surges…breaks into Binance futures top 10"

Tether Gold (XAUT) has moved into the top 10 by trading volume on global cryptocurrency exchange Binance.

In a CryptoQuant post on the 27th (local time), CryptoQuant contributor maartunn said, “Tether Gold has entered Binance’s top 10 perpetual futures by volume.” He added, “Just a few weeks ago, Tether Gold ranked only 453rd by perpetual futures volume,” and noted that it has now surged as high as 8th among all Binance perpetual futures.

Binance’s daily Tether Gold perpetual futures volume also hit a record high of $4.19 billion on the 29th of last month. The sharp jump in volume was largely driven by the recent parabolic rise in gold prices. Maartunn pointed out that “Tether Gold’s price recently climbed from $4,500 to above $5,400, and is now consolidating around $5,100, forming a stable range.”

Maartunn said the key takeaway is that “gold-backed crypto is no longer a niche hedging tool,” adding that it has “entered a phase of directly competing with Binance’s major crypto perpetual futures in terms of liquidity and investor attention.”