USDT0, a liquidity unification protocol backed by stablecoin issuer Tether, has launched a tokenized gold asset, XAUT0, on the Solana blockchain. The move comes as gold prices hit a new all-time high of $4,200 on Wednesday, driven by rate-cut expectations and rising Real-World Asset (RWA) tokenization adoption.
Solana continues to strengthen its foothold in the RWA sector, climbing to seventh place with a 35.3% surge in tokenized asset value over the last 30 days, now totaling $686.3 million.
Emphasizing the liquidity impact, SolanaFloor, a leading Solana analytics platform, highlighted that the USDT0 listing grants access to more than $170 billion in unified liquidity across over 12 chains.
The launch marks another step in Tether’s strategy to diversify beyond stablecoins and bridge traditional asset classes with blockchain infrastructure, having recently announced a $20 billion fundraise target.
Despite bullish sentiment from Tether’s gold tokenization initiative and billions in USDT liquidity flowing into Solana, Solana price performance remained muted on Wednesday. According to CoinMarketCap data, SOL traded around $195.8, down 5% daily, with trading volumes falling 31% to $9.9 billion.
Broader market turbulence weighed on sentiment as Bitcoin retreated below $110,300 at press time.
Adding to the pressure, fears of another major sell-off emerged after blockchain trackers flagged an $88,131 SOL (approximately $17.6 million) transfer to Coinbase from wallets linked to Alameda Research, the trading firm founded by Sam Bankman-Fried.
Historically, FTX and Alameda-linked liquidations have triggered short-term declines in Solana’s price.
Solana price action shows a retracement phase following last week’s sharp recovery from sub-$180 levels. On the daily chart, Solana remains confined within a corrective structure after the late weekend selloff.
Momentum indicators paint a mixed picture. The 14-day RSI currently reads 43.7, down from last week’s 52 peak, suggesting fading short-term bullish strength but not yet oversold conditions. The Parabolic SAR dots remain positioned above price near $230, signaling a continuation of the near-term downtrend until a decisive reversal confirmation occurs.
If Solana successfully reclaims and closes above $213 with follow-through toward the Parabolic SAR trigger at $230, bullish traders could eye the upper Bollinger band at $244 as the next upside objective.
