PANews reported on January 29 that, according to CoinGecko data, Bybit has become the world's largest centralized spot trading platform for Tether Gold (XAUT), accounting for approximately 15.75% of spot trading volume, ranking first among centralized exchanges.

XAUT prices have continued to strengthen recently, reaching a high of approximately $5,500, following spot gold's breakthrough of the $5,000 mark. The rise in gold prices is mainly driven by factors such as macroeconomic uncertainty, inflationary pressures, geopolitical risks, and continued gold purchases by central banks worldwide.

Han Tan, chief market analyst at Bybit Learn, stated that spot gold rose by over 64% in 2025, marking its largest annual gain since 1979. He pointed out that with continued inflows from central banks and ETFs, gold still has room to reach new historical highs in 2026.

As market attention shifts towards gold's safe-haven appeal, XAUT's trading activity as an on-chain gold asset has increased significantly. Bybit stated that its XAUT trading remains highly active even on weekends and during traditional financial market closures, making it a primary platform for price discovery and liquidity aggregation.