Cryptopolitan 2025-04-22 16:40:01

Tether Gold (XAUt) flexes as Trump sends dollar into a tailspin

The crypto industry is having its moment while the global traditional markets are still suffering from uncertainty. Amid the unraveling tariff war, gold-backed tokens are glittering and investors are taking notice. Tether’s XAUt is leading the charge as it has gained by over 7% in the past 7 days while Bitcoin price rose by just 3% in the same period. Gold price smashed through the $3,500 mark for the first time ever, and US President Donald Trump might be one of the major reasons behind this rally. After launching a fresh barrage of criticism at Fed Chair Jerome Powell, markets flinched while the dollar tumbled to a three-year low, and investors looked running toward their favorite crisis metal. XAUt leaves Bitcoin in the dust As the tariff wars enter the next phase, gold-backed cryptos are picking up the pace. Data shows that the tokenized gold coins market cap jumped by 2.6% in the last 24 hours to stand at $2.18 billion, with a trading volume of $345 million. Tether issued XAUt price surged by almost 2% to trade at $3,461 and the second in the race, PAX Gold (PAXG) traded at $3,470. Unlike meme coins or hype-fueled altcoins, these tokens are tethered to something tangible, i.e., real gold in vaults. Platforms like Tether Gold and Pax Gold are proving that digital gold isn’t just a novelty but it’s a growing safe haven. If we compare Bitcoin with XAUt, then BTC price has managed to surge by around 5% over the past 30 days while Tether Gold price has spiked by almost 14%. Bitcoin is trading at an average price of $89,172 as of press time. Tether’s XAUt eyes at the global gold throne Paolo Ardoino, CEO at Tether, in an X post , stated that XAUt will become the biggest tokenized gold market in the world. He added that the gold price is surging, and as a consequence of the world trying to hedge against chaos. In response, central banks are loading up hundreds of billions in gold as part of their reserves, he added. He suggested that the XAUt opens up the digital gold opportunity to the millions of people already using USDT. Tether’s USDT is the biggest stablecoin in the game. It holds a circulating supply of 144.72 billion. Circle is second on the list, with USDC boasting a circulation of 60.93 billion. Spot gold spiked to $3,500.05 before pulling back slightly, while US gold futures gained marginally to stand at $3,446. The move defied the usual playbook as equities dropped 2.4% but gold kept climbing. Analysts say Trump’s pressure on the Fed to cut rates, coupled with fears about the central bank’s independence, is fueling a new wave of safe haven buying. Traders are already eyeing $3,600 as the next psychological milestone. The global digital assets market printed green indexes all the way around. Its market cap surged by 2% in the last 24 hours to stand at $2.78 trillion. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot