Large crypto wallets are accumulating Tether Gold (XAUT) tokens worth millions of dollars even as the spot gold price drops over 20% from its January all-time high. The whale activity coincides with Tether’s announcement that XAUT now runs natively on BNB Chain, bringing tokenized gold access to one of the largest blockchain ecosystems. Gold Drops Below $4,500 While Whales Stack XAUT Gold hit $5,589 per ounce in late January 2026, its highest level ever. By March 27, the price had fallen to $4,447, a decline of more than 20% in under two months