Crypto whales are heavily betting on digital gold
As gold continues to hit new record levels, whale activity towards gold-backed cryptocurrencies is increasing.
Recent movements tracked show that wallet 0x6Afa spent $5.95 million to purchase 1,137 units of $PAXG in just two days. In a related development, a new wallet 0x0E4F withdrew 800 units of
$XAUT worth $4.22 million from the Bybit platform a few hours ago, reflecting a clear trend towards hedging with gold in the digital currency market.
I see that this synchronization between the rise of physical gold and the interest in digital gold