On-Chain Metrics

XAUT Implied On-Chain Volatility

Tether Gold on-chain: Derives an implied volatility measure from the interquartile range (P75-P25) of the cost basis distribution relative to the current price. When the spread is narrow, supply is concentrated at similar cost bases, small price movements shift large amounts between profit and loss, implying high on-chain sensitivity. When wide, the market can absorb larger moves without triggering widespread behavioral changes. A novel structural indicator not available elsewhere.