Tether-backed Firm Launches Tokenized Gold (XAUT0) on Solana Blockchain

Group 1: Market Developments - USDT0, a liquidity unification protocol by Tether, has launched a tokenized gold asset, XAUT0, on the Solana blockchain, coinciding with gold prices reaching an all-time high of $4,200 driven by rate-cut expectations and increased RWA tokenization adoption [1] - Solana has seen a 35.3% increase in tokenized asset value over the last 30 days, now totaling $686.3 million, solidifying its position in the RWA sector [1] - The USDT0 listing provides access to over $170 billion in unified liquidity across more than 12 chains, marking Tether's strategy to diversify beyond stablecoins [2] Group 2: Solana Price Performance - Despite positive developments from Tether's gold tokenization and significant USDT liquidity, Solana's price remained subdued at around $195.8, down 5% daily, with trading volumes decreasing by 31% to $9.9 billion [3] - Concerns over a potential sell-off were raised after an $88,131 SOL transfer (approximately $17.6 million) to Coinbase from Alameda Research-linked wallets, historically associated with price declines for Solana [4] Group 3: Technical Analysis - Solana is currently in a retracement phase after a recovery from sub-$180 levels, remaining within a corrective structure following a recent sell-off [5] - Momentum indicators show a mixed outlook, with the 14-day RSI at 43.7, indicating fading bullish strength but not yet oversold conditions, while the Parabolic SAR suggests a continuation of the downtrend until a reversal is confirmed [6] - If Solana can reclaim and close above $213, bullish traders may target the upper Bollinger band at $244 as the next objective [7]