Two clusters of on-chain whale addresses sold roughly $40 million worth of tokenized gold over two days as the metal traded above $5,000 per ounce. This has raised questions about whether large holders see a short-term ceiling. The exits were tracked by on-chain analytics platform Lookonchain, which flagged the moves across multiple wallet addresses holding Tether Gold (XAUT) and PAX Gold (PAXG), two blockchain tokens backed one-to-one by physical gold. Gold Whale Exits Captured Millions in Gains Two wallets, identified as 0x8C08 and 0xdfcA, believed to belong to the same holder, sold 5,250 XAUT at $5,125 per token and 560 PAXG at $5,173