80 sharks bought $8.1 million of Tether's gold token as ether fell 5%, while PAXG was sold
While ether dropped 5%, large wallets on DeepSea's live feed piled into XAUt. The rival gold token, PAXG, went the other way.
Key points
- In the 24 hours to 6:36 a.m. ET on November 9, 80 shark wallets bought $8.11 million of XAUt (Tether Gold) and sold $47,430, DeepSea's live feed shows.
- PAXG, Paxos's gold token, was net sold: $1.88 million out and $78,796 in, by 25 wallets.
- CoinGecko showed both gold tokens up about 1% in 24 hours at 6:41 a.m. ET, while ether fell 5.2%.
What DeepSea's data shows
DeepSea's live feed adds up trades by shark wallets (large wallets it tracks) on several chains. In the 24 hours to 6:36 a.m. ET on November 9, XAUt on Ethereum drew 80 different sharks. Together they bought $8.11 million and sold just $47,430. XAUt is Tether's gold-backed token, and its price tracks gold.
One wallet did about half of the buying. DeepSea's page for Hold4312 shows two XAUt buys of 500 tokens, $2.02 million each, about three hours before our check. That leaves roughly $4.07 million spread over the other 79 wallets.
The other big gold token moved the opposite way. Sharks sold $1.88 million of PAXG and bought $78,796. That row had 25 wallets.
DeepSea's XAUt token page, read at about 6:42 a.m. ET, showed a 7-day whale net flow of plus $31.35 million, $29.65 million of DEX liquidity and $8.37 million of 24-hour DEX volume.
Data: DeepSea (desea.io), checked November 9, 2026, 6:42 a.m. ET.
Gold tokens vs ether
CoinGecko showed XAUt at $4,093 at 6:41 a.m. ET, up 1.0% in 24 hours, with a $3.31 billion market cap and $210.9 million of trading. PAXG was at $4,096, also up 1.0%, with a $1.83 billion market cap and $93.3 million of trading. Ether was at $2,121, down 5.2%.
Shark trades in gold tokens, 24 hours
US$ million
24 hours to 6:36 a.m. ET, November 9, 2026. Source: DeepSea live feed.
How big is it?
The sharks' $8.11 million of XAUt buying is about 3.8% of the token's $210.9 million of 24-hour trading on CoinGecko. It is small next to the market cap. What stands out is the number of wallets: 80 sharks on one side, almost no sellers.
LC Insight analysis
This section is our reading of the facts above, not a statement of fact.
- We think the split between XAUt and PAXG shows big wallets choosing between gold tokens while staying in gold. The PAXG selling was less than a quarter of the XAUt buying.
- One wallet made about half of the XAUt purchases, so the total says more about breadth (80 wallets) than about a crowd of equal-sized buyers.
- Gold tokens rose on a day ether fell. The data shows the trades, not the reasons behind them.
What's next
- Whether the 7-day whale net flow into XAUt keeps rising
- Whether PAXG selling continues
- XAUt's market cap on CoinGecko over the week
Disclaimer. This article is based on public information and the sources listed below as of the update time shown. It is for information only and is not investment, legal or tax advice. Figures may change as companies and authorities publish new data.
Sources
- DeepSea, live feed 24-hour shark aggregate (fetched November 9, 2026, 6:36 a.m. ET)
- DeepSea, XAUt (Ethereum) token page (read November 9, 2026, 6:42 a.m. ET)
- DeepSea, wallet page Hold4312 (read November 9, 2026, 6:40 a.m. ET)
- CoinGecko, Tether Gold (XAUt) (read November 9, 2026, 6:41 a.m. ET)
- CoinGecko, PAX Gold (PAXG) (read November 9, 2026, 6:41 a.m. ET)
- CoinGecko, Ethereum (read November 9, 2026, 6:41 a.m. ET)
