Author: Wenser, Odaily Planet Daily
Silver, once known as the "poor man's gold," is sweeping the global market in a stormy fashion. The reason is simple: its terrifying price surge.
Recently, the price of silver briefly broke through $117 per ounce, reaching an all-time high. Since the peak of the crypto cycle in 2017, silver has officially surpassed the price increase of Bitcoin (approximately 500%) and gold (slightly below 300%) with a cumulative increase of about 517%. According to data from 8marketcap, the current price of silver is around $110, with a market capitalization of $6.18 trillion, ranking it as the second-largest asset globally, only behind gold. Such an astonishing trend has naturally sparked market enthusiasm. In addition to purchasing silver funds or physical silver through traditional brokers or offline stores, tokenized silver may also be an option, especially leveraged contracts on trading platforms and on-chain Perp DEX.
Current Status of Tokenized Silver: Only 2 Assets with Relatively Good Liquidity
According to data from Coingecko, the overall market capitalization of the tokenized silver sector is currently around $446 million, with a 24-hour increase of about 5.6%; specifically, the two silver tokens with relatively good liquidity are as follows:
Kinesis Silver (KAG): Market Cap Currently Reported at $406 Million
Like the gold token KAU, the KAG silver token is launched by Kinesis, a UK digital asset utility platform registered in the Cayman Islands, with major trading platforms including Kinesis Money, BitMart, and the UAE trading platform Emirex.
It is understood that KAG is backed by a fully insured and regularly audited vault (globally distributed storage), with each token anchored to 1 ounce of investment-grade silver; it supports global real-time payments; allows for physical silver redemption; and has no storage fees.
Its potential risks are similar to those of Tether, the issuer of the XAUT gold token, as this token heavily relies on the asset credibility of the issuer and faces certain regulatory uncertainties. Additionally, due to its relatively small market capitalization, market depth is average, and market volatility may lead to premiums or discounts, making it quite dependent on the trading platform for order matching.
Nevertheless, Coingecko's information shows that KAG has a 24-hour trading volume of about $5.5 million, making it the second-largest in the silver token market.
iShares Silver Trust (SLV): Market Cap Currently Reported at $39.5 Million
The iShares Silver Trust, launched by Ondo Finance, anchors its silver tokens through the BlackRock iShares Silver Trust (SLV) ETF, which holds corresponding physical silver.
Its advantages include tracking a regulated traditional SLV ETF, better liquidity, and supporting instant minting or redemption (for non-U.S. users); it combines traditional finance with blockchain convenience; has institutional-level endorsement; and does not require direct handling of physical silver.
Its potential risks include a heavy reliance on the asset credibility of issuers like BlackRock and Ondo, inability to support physical silver ownership or direct redemption; it incurs certain ETF fund management fees; U.S. user transactions are restricted and face potential securities regulatory limitations.
Major trading platforms include centralized exchanges such as Gate, Bitmart, Bitget, and AscendEX.
It is worth mentioning that SLV also supports contract trading, with a maximum leverage of 10 times.
Coingecko's information shows that SLVON has a 24-hour trading volume of about $21.2 million, ranking first in the silver token market.
Apart from the two major silver tokens KAG and SLVON, the silver token Silver rStock (SLVR) launched by the Solana ecosystem stock tokenization platform Remora Market, and the silver token Gram Silver (GRAMS) anchored to 1 gram of silver launched by Token Teknoloji A.Ş., also belong to the spot token category, but both have extremely low market capitalization and liquidity, with a larger price gap compared to KAG and SLVON, making trading participation not advisable.
Silver Leverage Trading Platforms: Hyperliquid, Binance, Bitget, and Others
In addition to spot silver tokens, many U.S. stock tokenization trading platforms, on-chain Perp DEX, CEX, and DEX have opened silver-related leveraged contract trading, supporting leverage of up to 20-100 times. Below are specific trading platforms for readers' reference:
Channel One - Hyperliquid: The silver/USDC contract trading pair has a 24-hour trading volume exceeding $1 billion;
Channel Two - Binance, supports leveraged trading for the XAG/USDT trading pair, with a maximum leverage of 100 times. Currently, the 24-hour trading volume is $1.32 billion. According to the official announcement, this trading pair officially opened on January 7 (at that time, the announcement indicated a maximum leverage of 50 times); on the other hand, the latest news shows that Binance will change the contract price index components for the gold token XAU/USDT on January 29, 2026.
Channel Three - Bitget, supports leveraged trading for the XAG/USDT trading pair, with a maximum leverage of 50 times. Currently, the 24-hour trading volume is $174 million.
Conclusion: Trump's Hawkish Policies and Preference for Rate Cuts Will Be the Best Catalysts for Precious Metals
Looking back, the international political and economic tensions, tariff trade wars, and the preference for interest rate cuts stemming from Trump's administration are the best catalysts for the rise in precious metal prices. Specifically for silver, apart from past supply tightness and its importance as a raw material, the transfer of risk assets and the U.S. attitude are crucial.
Claudio Wewel, a strategist at J. Safra Sarasin, pointed out that the continuous surge in silver prices is due to the market's weakening expectations for U.S. interest rate cuts and silver's newly acquired status as a critical mineral. In November, the U.S. Department of the Interior listed silver as a critical mineral, increasing the likelihood of tariffs on this metal. He noted that this has exacerbated the long-term supply tightness and prompted U.S. importers to accelerate silver procurement. At the same time, retail investors, finding it difficult to purchase gold due to its historical high prices, are turning to silver as a safe-haven asset.
In other words, the main rise in silver comes from both "scarcity" and "safe-haven" appeal, and combined with the recently tense situation in the Middle East, the price peak for silver may still be far from over.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
