$40M in Tokenized Gold Sold by Whales

[madmax]

Two clusters of on-chain whale addresses sold roughly $40 million in tokenized gold over two days as gold prices climbed above $5,000 per ounce. The sales involved Tether Gold (XAUT) and PAX Gold (PAXG), both backed one-to-one by physical gold.

Two wallets, 0x8C08 and 0xdfcA, sold 5,250 XAUT at $5,125 and 560 PAXG at $5,173, generating an estimated $5.32 million in profit. Hours later, a separate wallet (0x8844) sold 1,934 XAUT at $5,037, adding roughly $1.74 million in gains.

These exits have sparked questions about whether whales are signaling a short-term ceiling for gold prices.

[tradelikepro]

whales selling $40M in tokenized gold feels like classic “take profits before everyone else notices” energy