Summary
- Antalpha reportedly invested $240 million in Tether Gold (XAU), with unrealized gains exceeding $100 million.
- Antalpha’s average purchase price for Tether Gold was $3,693 per ounce, equivalent to 1.8 tons of physical gold.
- $15 million worth of Tether Gold was transferred from wallets tied to Antalpha to Cobo, fueling speculation of a potential sale, while spot gold prices climbed above $5,200.
Forecast Trend Report by Period
Blockchain financial firm Antalpha has reportedly generated profits of $100 million (about 150 billion won) from a large-scale investment in Tether Gold (XAU).
According to CryptoPotato on the 11th (local time), Antalpha’s unrealized gains from its Tether Gold investment were estimated to have exceeded $100 million as of that day. Antalpha, a partner of Tether (USDT), is said to have steadily accumulated Tether Gold worth $240 million. CryptoPotato said, "This is equivalent to 1.8 tons of physical gold," adding that "(Antalpha’s) average purchase price was $3,693 per ounce."
There is also speculation that Antalpha may move to realize profits. CryptoPotato reported, "About $15 million worth of Tether Gold was recently transferred from wallets associated with (Antalpha) to the cryptocurrency custody platform Cobo," adding that "there is growing speculation that (Antalpha) may be preparing to sell."
Meanwhile, spot gold prices rose on the day, topping $5,200. Spot silver prices also edged higher, coming in in the high $80s.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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