The tokenized commodity issuer has seen a rise in its bullion backing, with XAUt being added to its reserves during this period. This growth occurred as the value of gold plummeted. The decrease in gold's value was largely due to increased interest rates and concerns over inflation. The Federal Reserve raised interest rates three times in 2022, a move that negatively impacted the precious metal.
Source
"Tether Gold Reserves Surge Amid Gold's Poor Quarter" — Cointelegraph
This article is Bitcoincryptos' summary and analysis of reporting originally published by Cointelegraph. Read the full original report at the link above.
The increase in Tether Gold reserves suggests growing investor interest in tokenized commodities. This trend is consistent with the growth in holder counts for these types of assets.
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