๐ฎ๐ฉ XAUUSDT Perp on Binance is not a 'new' coin from a specific ecosystem, but rather a perpetual futures contract that follows the international spot price of gold (XAU) with settlement using USDT.
๐ What is XAU on Binance?
The symbol XAU in the global financial market represents 1 troy ounce of gold, so XAUUSDT Perp is a derivative of the price of gold against USDT, not a layer-1 token or a new DeFi token.
๐ This contract falls under the category of USDโ-Margined perpetual futures, where the margin and PnL are calculated in stablecoin (USDT), thus not tied to a specific blockchain ecosystem such as Ethereum, BNB Chain, Solana, and others.
๐ Is there a specific 'XAU coin'?
In the crypto ecosystem, there are indeed gold tokens like Tether Gold (XAUt) issued by Tether and backed by physical gold, but that is different from the XAUUSDT Perp that is on the Binance futures page.
๐ So if what appears in the app is 'XAUUSDT Perp' with Long/Short buttons and a countdown like in futures, that is purely a derivative product of the spot gold price, not a new coin project from a specific ecosystem.
#xauusd #binancenews #xauusdt #gold #emas
$PAXG ๐๐ช digital gold $BTC ๐๐ฅdigital silver $LTC
