Antalpha XAUT Deposit of $9.2M to Binance Triggers OTC Sale Speculation

An Antalpha-linked wallet moved 1,950 XAUT tokens—reported at roughly $9.18M—to custodian Cobo, which then forwarded them to Binance, prompting speculation the tokens will be sold via OTC desks. The transfer, confirmed on-chain in two blocks, suggests a structured liquidation or rebalancing by a major holder that still retains about $217M in XAUT. Since the deposit, Binance XAUT volume rose ~15% and the bid-ask spread widened slightly, though price remained near physical-gold levels (~$2,040–$2,050). Given Cobo’s institutional custody and Binance’s OTC capacity, the move may mute spot slippage but could signal broader selling pressure if more withdrawals follow. Traders should monitor order books and further on-chain activity for confirmation.