The triple drivers behind XAUt's rise: Scudo innovation, new gold price highs, and combined trading incentives

XAUt (Tether Gold) experienced a 2.05% increase over 24 hours on January 12. Although the magnitude appears moderate, multiple factors are simultaneously driving this movement. From the launch of Scudo’s new accounting unit, to the record-high international gold prices, and to the warming of incentives on trading platforms, this rise is not an isolated event but a microcosm of the gradual improvement of the on-chain gold ecosystem.

Price Performance and Market Data

As of January 12, XAUt is quoted at $4,597.27, fluctuating within a 24-hour range of $4,406.57 to $4,677.45. In terms of market capitalization, the latest data shows approximately $1.881 billion, up $37.7 million from the previous day. Looking at longer periods, XAUt’s performance is even more noteworthy:

This stepwise increasing growth curve indicates that XAUt’s upward momentum is not merely short-term speculation but rooted in deeper market demand shifts. The 24-hour trading volume of $206.37 million across 315 active trading pairs further confirms the ongoing market enthusiasm.

Scudo Innovation: Addressing the Pain Points of Gold Tokenization

A quick review of XAUt’s latest developments shows that the introduction of Scudo as a new accounting unit is a key turning point. Previously, XAUt was priced in full troy ounces, which often led to complex decimal issues when gold prices rose. Scudo is defined as one-thousandth of a troy ounce, equivalent to one-thousandth of XAUt. This seemingly simple change solves significant practical inconveniences.

The significance of this innovation includes:

• Allowing users to trade using integers or simple decimals instead of complex fractions
• Lowering the psychological barrier for ordinary investors to participate in on-chain gold
• Enhancing its practicality as a medium of exchange rather than just a store of value
• Further strengthening XAUt’s usability amid rising gold prices

Supporting Background: Record-High International Gold Prices

XAUt’s gains cannot be separated from the performance of international gold prices. According to recent news, gold has hit a record high, providing strong demand support for on-chain gold tokens. As a traditional safe-haven asset, rising gold prices often reflect market concerns about risk assets. In such an environment, investor demand for gold exposure increases, and XAUt, as a portable, 24/7 tradable form of digital gold, naturally becomes an important channel for participation.

Exchange Platform Incentives Driving Growth

Incentives from trading platforms are also contributing. Reports indicate that platforms have launched multi-faceted incentive schemes for XAUt, including spot trading fee discounts, trading competitions with rewards, and wealth management products with annualized yields up to 100%. These measures not only boost XAUt’s trading liquidity but also diversify user engagement—from simple spot holding to perpetual contracts, joint margin trading, and wealth management.

Market Position and Future Outlook

As a leading global gold token, XAUt currently ranks 42nd in the cryptocurrency market cap, with a presence of over 6 years since launch. While it may be less prominent than flagship projects like Bitcoin or Ethereum, its stable market cap and ongoing innovation demonstrate market recognition of tokenized gold.

Key areas to watch moving forward include:

• Whether the launch of Scudo can truly enhance XAUt’s trading activity and market penetration
• The future trend of gold prices and whether they can sustain high levels
• The effectiveness of exchange incentives and whether they can translate into long-term user loyalty
• Whether the on-chain gold ecosystem will attract more institutional participation

Summary

Although XAUt’s recent rise is modest, it reflects multi-dimensional progress in the on-chain gold ecosystem. From product innovation (Scudo), to market environment (record-high gold prices), to platform support (trading incentives), multiple factors are working in concert to underpin XAUt’s upward trajectory. For investors, the focus should not be solely on the short-term 2.05% increase but on understanding the long-term logic behind the digitization of gold assets—meeting hedging needs while offering the convenience of crypto assets. Continued attention is needed on gold price trends, the practical application of Scudo, and whether market enthusiasm can be sustained.