Whale deposits 1.53 million USDC into XAUT, precious metal assets heat up on Hyperliquid

According to the latest news, a whale deposited 1.53 million USDC into Hyperliquid and purchased XAUT. This transaction reflects a growing interest from large funds in precious metal assets. Amid the continued high activity on Hyperliquid, this whale’s move warrants in-depth analysis.

Why XAUT Attracts Large Funds

Strong Price Performance

XAUT (Tether Gold) is a precious metal token issued by Tether, currently priced at $4,937.09. Recent performance shows significant gains: up 2.27% in 24 hours, 7.29% over 7 days, and 9.81% over 30 days. This sustained upward trend naturally draws the attention of sharp-sighted whales.

Market Size and Liquidity

XAUT ranks 37th in the crypto market cap list, with a market cap of $217 million. Although not very large, its 24-hour trading volume reaches $262.33 million, indicating ample liquidity and the ability to execute large trades smoothly. This is a necessary condition for whales looking to build positions.

Safe-Haven Attributes of Precious Metal Assets

XAUT represents gold and has inherent safe-haven properties. In the current macro environment, large funds often allocate a certain proportion of assets to precious metals to hedge risks. The whale’s entry may reflect market participants’ cautious attitude toward future uncertainties.

The Trading Ecosystem of Hyperliquid Platform

Platform Activity Remains High

According to the latest data, Hyperliquid’s 24-hour trading volume on January 23 is approximately $6.23 billion. Although down about 30% from the previous day, it still ranks first among mainstream Perp DEXs. TVL reaches $4.48 billion, with open interest at $8.34 billion, indicating the platform’s continued strong appeal.

Frequent Whale Activity

From related information, whales on Hyperliquid are very active. Over the past week, operations include BTC short positions, ETH long rollovers, and HYPE long liquidations, among various large fund activities. This ecosystem has become a major on-chain trading venue for big capital.

Several Interpretations of Whale Behavior

• Optimistic about the upward trend of precious metals, choosing to build positions on a highly liquid platform like Hyperliquid
• As part of asset allocation, exchanging stablecoins for precious metal tokens to hedge crypto asset risks
• Possibly leveraging the platform’s leverage features to amplify positions as XAUT prices continue to rise
• Taking advantage of recent XAUT gains to participate in short-term trading opportunities

Summary

The whale’s deposit of 1.53 million USDC into XAUT reflects two phenomena: first, XAUT, as a precious metal token, has recently performed strongly and has entered the radar of large funds; second, Hyperliquid, as a liquidity-rich trading platform, is attracting more and more whales. Such large fund movements often indicate subtle market changes. Future focus should be on whether XAUT’s price can sustain its upward momentum and if more big funds will follow suit.