Gold’s Safe-Haven Rally Spills Into Crypto Markets: Here’s How
Physical gold costs climbed to their highest degree in a month as safe-haven demand spiked amid escalating geopolitical tensions.
At the identical time, the transfer into bullion is spilling into digital markets. On-chain knowledge exhibits a surge within the accumulation of tokenized gold belongings.
Gold Prices Advance as Investors Seek Safety
Gold rose 2% on March 2, reaching an intraday high of $5,394 per ounce, its highest level since January 30. At press time, the value had adjusted to $5,363.7.
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The catalyst was direct: US and Israeli strikes on Iran sparked safe-haven flows into treasured metals throughout international markets. Monday’s flare-up injected further momentum into the valuable metallic’s broader rally. Gold has delivered notable returns, rising roughly 65% in 2025 alone.
For crypto individuals, the timing mattered. With digital asset markets concurrently experiencing renewed volatility, tokenized gold provided a path to protect gold publicity with out counting on conventional finance rails.
Major Purchases Highlight Tokenized Gold Demand
On-chain analytics agency Lookonchain recognized an inactive pockets that spent $1 million USDC to purchase PAX Gold (PAXG) and Tether Gold (XAUT) tokens. The tackle, labeled 0x1C70, carried out a number of swaps over a number of hours and nonetheless holds $4 million USDC.
“The pockets nonetheless holds 4M USDC and should purchase extra,” Lookonchain said.
Additionally, an Ethereum whale rotated holdings from ETH into XAUT whereas accepting a realized loss. OnchainLens reported that the pockets (0x744b) swapped 1,000 ETH, valued at $1.94 million, for 358.49 XAUT at $5,413, incurring a lack of over $60,000.
“Over the previous 2 years, the whale acquired 1,645 ETH for $3.26 million and nonetheless holds 645 ETH ($1.25 million),” the post learn.
Meanwhile, London-based asset supervisor Abraxas Capital Management’s gold holdings additionally rose. An on-chain analyst, citing knowledge from blockchain intelligence platform Arkham Intelligence, reported that the agency acquired 28,723 XAUT tokens, valued at $151 million, from Tether’s treasury. The switch marked the most important XAUT transaction recorded prior to now three weeks.
“Interesting truth: Heka Funds (Abraxas Capital) is one in all Tether’s largest and most essential institutional shoppers. At one level, it held 1.5% of the whole USDT provide. Among Tether’s publicly disclosed on-chain tackle clusters, it presently ranks because the second-largest entity by interplay quantity,” the analyst added.
The enhance in tokenized gold accumulation corresponds with higher curiosity in various shops of worth inside crypto. Investors might favor gold-backed tokens for value stability and potential good points linked to metals markets, whereas risking much less from the volatility typical of many digital belongings.
BeInCrypto recently reported that the tokenized gold sector has recorded important enlargement, with its market capitalization now exceeding $6 billion. Furthermore, in response to CoinGecko, each day buying and selling volumes for both XAUT and PAXG surpassed $1 billion yesterday, signaling sturdy investor demand.
Whether it is a short-term flight to security or marks a sustained transfer towards commodity-backed digital tokens stays a query as March 2026 progresses and more on-chain data emerges.
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