Executive Summary
- •Tether Gold expanded its gold reserves by 9.5% in the second quarter.
- •Gold plunged 14.1% during the exact same timeframe.
- •Tether Gold maintains a $2.4 billion valuation.
Community Sentiment
Key Developments & Data
Tether expands gold reserves by 9.5% amid heavy market selloff.
In the second quarter, Tether Gold $XAUt expanded its gold reserves by 9.5%.
But the commodity itself plunged 14.1% simultaneously.
It's the worst performance gold has recorded since 2013.
So the token maintains a $2.4 billion valuation as the largest digital commodity buyers have access to.
"Holders of Tether Gold are not only buying XAUt when the price of gold is rising. They are using periods of market weakness to increase their ownership of physical gold through a product that is fully backed, transparent, portable and accessible onchain." — Paolo Ardoino
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