Web3: XAUT deposits on Aave increase to $76.7 million

Tokenized gold deposits on Aave have increased significantly recently. According to the data cited, Tether Gold (XAUT) deposits on the protocol have risen from around $40 million at the beginning of June to $76.7 million, an increase of approximately 91.7%. Based on current figures, Aave has become one of the main DeFi use cases for tokenized physical gold.

XAUT Used as Collateral to Borrow Stablecoins

This growth is not simply due to passive storage of gold tokens in the protocol. XAUT can now be used as collateral to access the lending market, allowing users to borrow stablecoins such as USDT and USDC while retaining exposure to gold.

This means tokenized gold is starting to have stronger capital circulation capabilities. Some users are able to gain liquidity while holding gold assets, and can reinvest borrowed stablecoins into other on-chain strategies. The article notes that global uncertainty and high gold prices are among the background factors driving demand.

However, increased deposits do not mean risk is eliminated. Using gold tokens as collateral to add leverage is still subject to the price volatility of the underlying asset.

Lending Activity on Aave Also Rising

Alongside XAUT deposit growth, overall lending activity on Aave is also expanding. The article mentions that the active loans in Aave V4-related markets are close to $150 million, with $130.9 million loaned out and a total supply of $389.1 million.

• Total stablecoin loans are around $7.4 billion
• Total stablecoin supply is about $8.98 billion
• Stablecoin utilization rate is approximately 82.5%

A high utilization rate usually indicates that funds are not sitting idle, but are continuously being borrowed and used within the protocol. This also reflects that current lending demand on Aave remains strong.

AAVE Price Moves Back Above $85

Aside from on-chain data, the price of the AAVE token has also recovered somewhat from June lows. The article states that AAVE has rebounded from a low near $60 and is currently holding above $85.

The report also mentions that the area near $108 is the key resistance to watch right now, corresponding to the 200-day exponential moving average. In the short term, the market is focusing on whether Aave’s on-chain activity can continue to support price performance.